India
| Country | India |
|---|---|
| Currency | INR |
| EU Member State | No |
| Standard VAT/GST rate | 18% |
| Reduced VAT/GST rate | 28% / 12% / 5% / 0% |
| VAT registration limit for established businesses | Yes. The registration limit is typically based on the goods/ services and the turnover of the assesse. |
| VAT registration limit for non-established businesses | No |
| VAT return filing periods | Monthly / Quarterly |
| Annual VAT returns | Yes |
| Additional reporting requirements | Yes |
| VAT recovery by non-established non-EU businesses | No |
| Reverse Charge | Yes |
| Fiscal representative required for non-EU businesses | In case the non-established business is liable to obtain registration, the non-established business would require a representative to obtain registration. |
| Statute of limitations | The statute of limitations under the Act in the case of submission of returns is one year from the end of the relevant tax year, and for assessment of returns filed is 33 months (45 months in case transfer pricing provisions are applicable) from the end of the relevant tax year for which the return is filed. The statute of limitations for reassessment ranges from five years to 17 years from the end of the relevant tax year. |
