The central government charges VAT from the business dealers, levying it upon the market price of goods and services. Knowing the VAT regulations will benefit you if you are a dealer from Manipur.
Curious to know more about VAT in Manipur? Get quick guidance from this article regarding its rates, registration and return filing.
Value Added Tax (VAT) is a popular consumption tax levied on each supply chain step. These are steps whereby supplies add value to a manufacturing process. The VAT in Manipur is charged from any process that adds value to a product or service. Dealers must add this tax to their products’ market price and pay it to the government.
Regarding the rates of Manipur VAT, the government has made two schedules mandatory as part of this law. The following table can help you understand the products that contain VAT and rates applied on these.
Schedule |
Applicable Goods or Services |
VAT Rate in Manipur |
Schedule I |
Precious stones (gold, platinum, silver, etc.) |
1% |
Edible oil and kerosene oil |
5% |
|
Utensils, hosiery goods |
||
Coconut fibre, bamboo, tea |
||
Ore and minerals, chemical fertilisers |
||
Used cars and tractors |
||
IT products |
||
Schedule II |
Good grains, fish, meat, fresh vegetables, salt, etc. |
0% |
Books, handlooms, textiles |
||
Agricultural implements, tobacco, sugar, etc. |
According to the Manipur VAT Act, every dealer must pay VAT, considering they meet the following criteria.
The government has set the following taxable limits for various dealers.
|
Description |
Taxable Limit |
|
Dealers who import goods to Manipur for sale on his/her behalf |
Nil |
|
Those who manufacture and produce goods for sale |
₹4 lakh |
|
Dealers engaged in any other business apart from the two mentioned above |
₹3 lakh |
|
Those involved in executing work contracts |
₹50,000 |
Any dealer can register with the Excise Registration Taxation Stamps Department or choose to e-Register for VAT in Meghalaya through the official portal. E-registration service allows business owners to fill out the forms online and apply for VAT registration certificates without hassle.
The steps to register for VAT online are as follows:
Step 1: Log in to the official website
Step 2: Navigate to the "services" tab and search for Excise Registration Taxation Stamps Department in the Department/Office Wise section
Steps 3: Click on online VAT registration
Step 4: There are 9 tabs in the registration module
Step 5: Initially, applicants can only access two tabs, and these are "registration guide" and "dealer details"
Step 6: Applicants who want to apply for fresh registration need to navigate to "dealer details"
Step 7: One can only move further after filling up all information in the "dealer details" segment
Step 8: Dealers need to input their current email and phone number so that authorities can contact them when required
Step 9: Applicants also need to fill up a certain form. These Meghalaya VAT forms include:
Step 10: One also needs to upload scanned copies of certain documents. These documents include:
Step 11: After providing all the information, one needs to click on the save button and then submit
Step 12: Post submission of data and documents, the portal will send a system-generated application number, which the applicant can use in the future for tracking purposes
Step 13: Dealers will receive email on SMS for certificate collection
Dealers can pay the VAT registration fee online as well. One needs to follow the steps below:
Step 1: After the registration request is submitted through the official website, the applicant will be redirected to the online payment page
Step 2: From there, they can enter their bank details and pay the registration fee
After a successful transaction, one will receive an acknowledgement slip and number which the applicant must maintain carefully.
Registered users can file for return against the VAT payment in Meghalaya online. In order to do so, one can follow the steps below:
Step 1: Visit the official website
Step 2: Registered users need to again submit certain documents like PAN, EPIC, Labour certificate, Municipal Licence, Trading Licence from District council, Headman address proof certificate, etc
Step 3: Further under Section 35, applicants also need to fill up some forms for submission of periodic returns and payments of tax. These forms are:
The introduction of Goods and Services Tax (GST) has overshadowed the use of VAT in most Indian states. The main reason for GSTs popularity is that it eliminates the cascading effect that indirect taxes have on the economy, especially the VAT.
Moreover, VAT has been merged into GST for most goods and services. Different VAT rates and rules in every state was not a very practical thing to do. Also, in the case of GST, the consumer tax collects the tax instead of the seller state; hence the liability of paying for the taxes is removed from the buyers. However, VAT is still levied on certain goods like petrol.
This blog discussed VAT in Meghalaya and covered aspects like registration, e-payment and e-filing.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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