Presumptive VAT

All dealers, whose annual turnover is less than 50,00,000, are qualified to pay presumptive tax on a quarterly basis.  There is further division here....i.e. turnover less than 50,00,000 but more than 20,00,000 and then turnover less than 20,00,000.


Those in the first category, i.e. less than 50,00,000, but more than 20,00,000, need to pay 0.5% of total sales quarterly as tax to sales tax department.


Those in the second category, i.e. less than 20,00,000 needs to pay Rs. 750 as tax quarterly to sales department.