Taxable quantum for compulsory registration raised to 10 Lakh under WB VAT

Sec­tion 10 and sec­tion 14 have been amend­ed so that the thresh­old lim­it of turnover of sales or con­trac­tu­al trans­fer price for com­pul­so­ry reg­is­tra­tion has been raised from rupees 5 Lakhs (five lakh) to rupees 10 Lakh (ten lakh) w.e.f. 01.04.2015.

Deal­ers mak­ing online appli­ca­tion for reg­is­tra­tion under dig­i­tal sig­na­ture and pay­ing fee for reg­is­tra­tion and secu­ri­ty through Gov­ern­ment Receipt Por­tal Sys­tem (GRIPS) are no longer required to fur­nish hard copy of appli­ca­tion for reg­is­tra­tion pro­vid­ed that the duly signed dec­la­ra­tions and doc­u­ments as per rule 5A(2) are uploaded on the Directorate’s web­site, w.e.f. 01.04.2015.