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Regardless of whether it is an individual tax or a business tax, it is always a complex process and takes a lot of efforts. The only thing that differs is that when it comes to businesses, the complexities and efforts are multiplied by many folds. Sales tax is one of the tax which is levied by the department of commercial taxes from the business entities that are into trading of goods.
The turnover tax is mandatory for the entrepreneurs whose annual turnover falls in the bracket of 5 lakhs to 40 lakhs. If it is beyond 40 lakhs then you have to obtain a value added tax registration. If the business makes sales in another states, it has to obtain a central tax registration. Monthly return is a form of disclosure that is done on a monthly basis to inform the commercial taxes department that the tax payable for sale of the products is being paid on a regular basis. Numbro tax consultant in Hyderabad can help you with the registration and the monthly returns compliance.