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Criteria for vat audit

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17 December 2014 A company has a turnover of over Rs 1 Cr. however the vat rate on its sales, i.e. output tax is @ 0%. will the company still be liable for VAT Audit under the "Maharashtra Vat Act"?
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
17 December 2014 VAT audit is based on turnover not on vat liability.

If assessee crossed threshold limit of VAT, Audit becomes mandatory.
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Rupesh Jain

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Rupesh Jain (Expert)
20 December 2014 audit always on basis of the turnover not on the vat rate.
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