VAT, which stands for Value Added Tax, is an indirect and multi-point sales tax. It is a variation in the tax structure in India. Any person who is connected with any kind of business activities, trading in goods – whether it is for cash or commission or remuneration is eligible to pay VAT.
In India the people who are eligible for paying VAT include a) agents – broker, mercantile, del credere or commission agent b) non-resident dealer or his associate c) auctioneer d) casual trader d) people discarding materials such as scrap, waste products, confiscated goods, old materials as way of earning money e) banking and insurance companies f) club, association or co-operative society.
This certificate is very essential for your business. If the VAT registration certificate is misplaced or damaged or mutilated or becomes indecipherable it is an issue of serious concern for you as a businessman. In this case you need to get a duplicate Permanent Registration Certificate as soon as possible.
Steps you need to take to get a duplicate VAT Registration Certificate
1) You need to notify the Circle In-Charge so they can issue the same.
2) You need to submit a proof of payment of Rs 100 as a fee to obtain the same.
3) An indemnity Bond of Form B-1
The concerned authorities will issue a duplicate certificate of the original certificate that was claimed to be lost and the duplicate copy will be labeled as Duplicate in red.