Uttar Pradesh (UP) VAT Registration
Uttar Pradesh VAT Registration (UP VAT), UP VAT Tax Rates
In this article, we cover the basis of Uttar Pradesh VAT Registration, UP VAT Return Filing, UP VAT Tax Rates and VAT Payment. Uttar Pradesh is one of the largest states in India, having a GDP of nearly Rs.8,86,410 crores during the year 2013-14. The Uttar Pradesh VAT Act, 2008 regulates all the aspects of VAT taxation in Uttar Pradesh and the Act extends to the whole of Uttar Pradesh.
UP VAT Registration
In UP, VAT Registration is mandatory for any dealer who sells good imported from other state or manufactures goods using goods imported from other states. Further, VAT Registration is mandatory for any dealer who commences business during the course of an assessment year and their monthly turnover is 41,666. Irrespective of turnover, VAT Registration is mandatory for casual dealers, dealers registered under CST, dealers doing business in the state but residing out of the state, commission agents, brokers, liquor sellers, transporters and those operating warehouses or cold storages.
UP VAT Tax Rates
In Uttar Pradesh, VAT is levied in five different slabs, based on the Schedule in which the good is included. The following are the schedules of UP VAT Tax rates:
- Schedule I – VAT Tax Exempt – (Example: Agricultural implements, aid for handicapped persons, firewood, fresh plants, flowers, etc.,)
- Schedule II – 4% VAT Tax Rate – (Example: Clay, Computer Stationary, Iron and Steel, Brick, Medical Equipment, Ores, Minerals, etc.,)
- Schedule III – 1% VAT Tax Rate – (Example: Precious metals, precious stones, bullion, etc.,)
- Schedule IV – Different VAT Tax Rate for mostly items like Petrol, Diesel, Aviation Fuel, Naphtha, etc.,)
- Schedule V – 12.5% VAT Tax Rate for goods not mentioned in any of the above schedule
UP VAT Return Filing
In UP, dealers liable for payment of VAT tax for the first time in any assessment year or dealers dealing in sensitive items like Oil, Coal, Iron-Steel, Cement, Medicine, Electronic Goods, etc., are required to file monthly UP VAT returns. Dealers not falling under any of the above category must file their monthly UP VAT return 20 days from the end of the last day of the previous month. Finally, all dealers must file an annual VAT Return on or before October 31s for the previous assessment year.
UP VAT Payment
In UP, the due date for payment of UP VAT Payment falls on the same day as that of the UP VAT Return due date. Therefore, dealers registered for VAT must make VAT payment and file VAT return as per the respective due date.