Meaning of turnover for vat audit.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 October 2013
VAT Audit is compulsory for dealers with T.O more than 1 crore ,can I know what the T.O includes ,whether MODVAT is to be included to derive the Turn over ? Please also mention the sections.
25 October 2013
yes to be included.....infact at the time of accounting excise duty is added to the sales as per the guidance note and shown by way of deduction from sales in profit and loss account.
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2013
Thanks Mr. Saxena
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