Register your biz or face penalty: Delhi Govt to traders

New Delhi, Apr 25 (KNN) The Delhi Government has asked the businesses with turnover more than Rs 20 lakh, which includes MSMEs, to register their businesses online failing which they would have to face penalties.

In a notification, Department of Trade & Taxes , Government of NCT of Delhi has asked the businesses to obtain the TIN from Department of Trade & Taxes (VAT).

“Any business established in Delhi whose annual turnover is more than Rs 20 lakh and any business establishment doing inter-state trade or commerce, irrespective of turnover,” must register themselves, said the notification.

As a consequence of non-registration, the notification said there would be a penalty up to Rs 1 lakh and prosecution under Delhi Value Added Tax Act 2004 and Central Sales Act 1956.

The registration can be done through the website www.dvat.gov.in. (KNN Bureau)