Vat Audit
This query is : Resolved
07 April 2008
Who is required for vat audit in gujrat.
23 August 2010
14.1 Under Gujarat VAT, every dealer, registered or unregistered, liable to pay tax
and if his turnover of Sales or Purchases exceeds of rupees 1 Crore in any
year, than his accounts in respect of such year audited by an accountant (i.e.
Practising Chartered Accountants or Cost Accountants or Legal Practitioner or
Sales Tax Practitioner) within SIX MONTHS from the end of that year.
14.2 A copy of such audit report will required to be furnished by such dealer to the
Commissioner within 30 days from the date of obtaining audit report.
14.3 In case of any failure to furnish the copy of the report within the time
prescribed, the Commissioner may, after giving a reasonable opportunity,
impose in addition to the tax payable, sum by way of penalty maximum of
Rs. 10,000/-.
14.1 Under Gujarat VAT, every dealer, registered or unregistered, liable to pay tax
and if his turnover of Sales or Purchases exceeds of rupees 1 Crore in any
year, than his accounts in respect of such year audited by an accountant (i.e.
Practising Chartered Accountants or Cost Accountants or Legal Practitioner or
Sales Tax Practitioner) within SIX MONTHS from the end of that year.
14.2 A copy of such audit report will required to be furnished by such dealer to the
Commissioner within 30 days from the date of obtaining audit report.
14.3 In case of any failure to furnish the copy of the report within the time
prescribed, the Commissioner may, after giving a reasonable opportunity,
impose in addition to the tax payable, sum by way of penalty maximum of
Rs. 10,000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
