TIN DEALER IS LIABLE FOR VAT AUDIT OR NOT ????
This query is : Resolved
23 January 2010
My Client is a Proprietor of 2 Proprietorship Firms. In Firm 1 his Turnover is Rs. 25 Lac and in Firm 2 his Turnover is Rs. 23 Lac. So together we see he is liable for Audit. But as per Sales Tax he is having 2 different VAT TIN No. So is he laible to get his accounts audited under MVAT ???? pls. reply soon.. u can mail me at : manishparmar555@yahoo.com
26 January 2010
First Que how u have two different TIN where both firm are proprietary? And if both firm are of proprietary and consolidation Sales of both Firms exceeds 40 Lks and you have any taxable items is sales, then you should get your A/c audited under MVAT
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