What's the benefit to client done vat audit

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 with reference to the captioned subject please guide....

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
Follow

04 April 2012 BY VAT Audit , he will not be liable for Penalty for not doing VAT Audit, his books will b proper.

CA Kishore Tallam

CA Kishore Tallam (Expert)
Follow

04 April 2012 Because of audit, the books of accounts will be in proper form and acceptable to dept.
If everything goes good in audit, the dept also will have a +ve view on the auditee about maintenance of records and furnishing of information thereby relationship can be established.

Upgrade to CAclubindia Pro. Subscribe Now!

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

04 April 2012 The Sales Tax Department shares the responsibility of understatement and tax evasion with the C.A. by getting the audit done through C.A and accepts the figures as certified by him so that the State Government does not loose the due taxes and on collection of taxes the respective State can invest or use the money for the development of the State and it's needs

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2012 Thanks for all those replying