https://www.taxtmi.com/forum/issue?id=111463 Registration under Tamil Nadu VAT is based on turnover, not profit; dealers whose total turnover meets statutory thresholds must register. For hotels, restaurants and similar eating houses, dealers within the permitted turnover band may opt to pay tax at a compounded rate under the composition scheme. Turnover for this purpose includes purchase turnover liable to tax added to sales turnover. Verification of turnover is typically achieved through audits by chartered accountants or cost accountants and by consulting tax authority records. en-us Sun, 05 Feb 2017 02:31:36 +0530 Thu, 23 Jan 2025 15:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111463 Registration under Tamil Nadu VAT is based on turnover, not profit; dealers whose total turnover meets statutory thresholds must register. For hotels, restaurants and similar eating houses, dealers within the permitted turnover band may opt to pay tax at a compounded rate under the composition scheme. Turnover for this purpose includes purchase turnover liable to tax added to sales turnover. Verification of turnover is typically achieved through audits by chartered accountants or cost accountants and by consulting tax authority records. Discussion-Forum VAT / Sales Tax Sun, 05 Feb 2017 02:31:36 +0530 https://www.taxtmi.com/forum/issue?id=111463