Vat audit-urgent querry

This query is : Resolved

bijal panchal (Querist)
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05 January 2012 In works contract turnover excluding labour on which service tax is billed donot exceeds 60 lakhs then VAT Audit under Maharashtra Act is applicable or not?????plz reply soon

thanks in advance

Prakash Kochar

Prakash Kochar (Expert)
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22 January 2012 If turnover is purely of labour contract independantly, wherein no material is transferred it will not be consider in turnover.
If there is transfer of property in goods involved in execution of work contract iin such cases the labor part will be included in turnover of sale, if it exceeds limit of Rs. 60 Lakhs will be liable for Audit under MVAT Act.