TOT Meaning ?
Turnover Tax (TOT)
AP VAT dealer can buy goods for business from anywhere in the country, a TOT dealer is barred from buying outside the State of A.P.
Regards
G.Srinivas
Andhra Pradesh Value Added Tax Act, 2005 prescribes threshold limits for VAT registration - dealers with a taxable turnover of over Rs.40.00 lacs, in a tax period of 12 months, are mandatorily registered as VAT dealers. Dealers with a taxable turnover, in a tax period of 12 months, between Rs.5.00 to 40.00 lacs are registered as Turnover Tax (TOT) dealers
Regards
G.Srinivas
WHY TOT DEALERS CANT BUY GOODS FROM OUTSIDE ANDHRA ?
ReplyDeleteTOT Dealers not authorized to buy goods from other state as the sellers asks for TIN number.
Deletewww.AccountsGuy.Net
Dear Mr.Venkkatesh K,
DeleteEveryone or Every VAT Dealer purchase goods from any VAT Dealer. but TOT dealer can't claim Input Credit.
i am running a food outlet {w/o seating) at chandigarh (U.T.) with sales turnover of about 15-18 lacs annually . am i eligible for TOT number instead of VAT as customers have to bear extra 12.5% on food as compare to 1% TOT( which i hv heard ) ... any solution ?
ReplyDeletehi sir iam doing a businees of computer sales and service some coustomer arev asking about tin no. and iam doing a businees of 5 lak sir what should itake
ReplyDeleteYou should take only TOT
Deletetot dealer how to use in tally?
ReplyDeleteDear Sir, I am going to start Cloth Bussiness Like Saress & Dress Material,Shirt,Pants Etc, Can u suggest me which licence can i apply ( Tot / Tin )
ReplyDeleteRegards
Jabbar
jjabbar786@gmail.com
Respected Sir, I am retail shopkeeper I have vat number now I want tot number can I transfer my stock from vat to tot number .if I have to pay vat on the stock is there any way to save that tax money on stock while I am transferring my stock from vat to tot number.
ReplyDeletethanx and regards
Sanjeev
Your keep the same form, but your started with new form then below 40 lakh, you will eligible TOT, enough.
Deletesir i do travels and dish tv business in my village per annum i do 30 lakshs rotation i apply for loan bank manager as me tin num ? difference between tot and tin
ReplyDeleteHi,
DeleteTIN Number is issued by your state sales tax dept.
TOT is one type of TIN number, which was issued by your state sales tax dept.
Just apply loan your TIN number