Whether audit under mvat applicable or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2013
my client product cover under schedule A i.e.(manufacturing of rice). so state whether he is liable for mvat audit as manufacturing exempted goods i.e.0% vat.
27 February 2013
Applicability of VAT Audit Depends on the turnover of the dealer., ie if either of sales or purchase exceeds Rs 40 lacs during the financial year.
so in your case if the turnover exceeds the above limit Audit will be applicable.
so in your case if the turnover exceeds the above limit Audit will be applicable.
27 February 2013
It's not 40 Lakh,
it is 50 Lakh.
it is 50 Lakh.
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