Vat audit and tax audit

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P. Shah (Querist)
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01 September 2016 what are the limits for vat audit and tax audit for businessmen. what is the difference between vat audit and tax audit. plz can anyone clarify . its urgent

ACA Anurag

ACA Anurag (Expert)
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01 September 2016 Dear user, Tax audit occurs when a business turnover exceed 1 crore and is done for income tax purposes. When vatable goods turnover exceed 1 crore then vat audit come into picture and it's for state vat. Hope your query is resolved Kindly like if my response has helped you

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P. Shah

P. Shah (Querist)
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02 September 2016 now limit is increased from 1 crore to 2 crore for tax audit . so vat audit limit?

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P. Shah

P. Shah (Querist)
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02 September 2016 from 1/6/2016 onwards they have increased limit form 1 cr to 2 cr for tax audit . what about vat audit ? for vat audit limit also same 2 cr or what? confused

Sandeep Dharar

Sandeep Dharar (Expert)
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03 September 2016 Dear, the limit varies from state to state, so please elaborate for which state u r asking. And regarding the enhancement in limit it has been done from the current year.

ACA Anurag

ACA Anurag (Expert)
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03 September 2016 Dear User, we have given our answer in contest of AY 2016-17. For vat kindly share your state we will assist you in total

P. Shah

P. Shah (Querist)
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03 September 2016 I am talking about Maharashtra State . Thanks a lot for helping me.

Sandeep Dharar

Sandeep Dharar (Expert)
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06 September 2016 As per me the limit is 100 lakhs (1 crore). U can also wait for other experts reply

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