Vat audit maharashtra for exempt sales

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2014 Hi all!

1. An assessee is having the Business of chilling milk and selling (no value addition hence exempt- specified under schdule A of MVAT Act)

2. The turnover of exempt sales is however around Rs. 28 Crores thereby exceeding turnover limit of 1 crore for Vat Audit

I referred the MVAT Act on the mahavat site which starts with the words "Every dealer liable to pay tax shall"...

Is the assessee still liable for Vat Audit even though all the sales are exepmt and dealer is not liable to pay VAT?

CA CHIRAG DOSHI

CA CHIRAG DOSHI (Expert)
Follow

28 October 2014 Dealer is liable for Mvat Audit even if dealer is dealing only in exempt goods, as t/ o crosses 1 cr. dealer is liable for Mvat Audit

CA Chirag Doshi
9833027231