https://www.taxtmi.com/forum/issue?id=105627 Unregistered dealers must state on each invoice that they have not crossed the statutory threshold. They may sell both taxable and tax free goods, while exclusive dealings in tax free goods exempt registration even if thresholds are crossed. Dealers should maintain and submit financials and bank statements to the VAT department, and financials certified by a Chartered Accountant are acceptable. For income tax, business expenses may be claimed as for a regular proprietorship, and engaging a Chartered Accountant is advisable for certified reports and compliance guidance. en-us Thu, 02 May 2013 19:01:13 +0530 Thu, 23 Jan 2025 15:57:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=105627 Unregistered dealers must state on each invoice that they have not crossed the statutory threshold. They may sell both taxable and tax free goods, while exclusive dealings in tax free goods exempt registration even if thresholds are crossed. Dealers should maintain and submit financials and bank statements to the VAT department, and financials certified by a Chartered Accountant are acceptable. For income tax, business expenses may be claimed as for a regular proprietorship, and engaging a Chartered Accountant is advisable for certified reports and compliance guidance. Discussion-Forum VAT / Sales Tax Thu, 02 May 2013 19:01:13 +0530 https://www.taxtmi.com/forum/issue?id=105627