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Concept of undervalue bill

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 July 2013 Hello,

Can any one explain me what is the concept of Under value bill ? Tommorow,I have to vouch purchases in audit. I do not have knowledge of VAT.

Please help me as soon as possible.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 July 2013 Under value bill means the billed the materials less then the normal price, which is not an arms length price

price is less then the market price

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