18 October 2009
In Vat audit you have to check the following:
(1) Whether rate of tax charged on sales is correct. (2) Whether the vat paid on purchases is allowable as input vat. (3) Whether input vat claimed for capital assets is as per capital assets scheme of that state. (4) Usage of forms like c form etc., (5) Whether forms has been collected on sales against c forms and duly submitted to authroitieis. The above are the major heads.
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