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vat audit
my turnover for the period apr to June 2017 is 30 lakh is it necessary to do vat audit under mvat
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audit turnover for 2017-18 under mvat
Replies (8)
I think it is not necessary.
Anyway you take a advice from your commercial tax officer regarding this, as this is concerned to Vat.
Anyway you take a advice from your commercial tax officer regarding this, as this is concerned to Vat.
the limit us 25 lac than mvat audit is compulsory...
Yes mandatory
IS THERE ANY CIRCULAR FOR THE SAME REGARDING TURNOVER LIMIT OF RS.25,00,000/-
MY TURNOVER FOR INCOME TAX IS BELOW 1 CORE SO NO TAX AUDIT IS APPLICABLE.
BUT WHILE UPLOADING VAT AUDIT REPORT ERROR COMING THAT TAX ADUIT DATE IS MANDATORY IN VAT AUDIT FORM.
NOW IF THERE NO INCOME TAX AUDIT WHAT SHALL BE THE SOLUTION FOR THE ERROR???
Is it mandatory to do the VAT Audit if Only my Purchases Turnover is Crossed the 25 Lakh limit during the Period April to June 2017?
same question with me what can do.
Yes. Since the sec 61(1) says "1) Aggregate Turnover of Sales or 2) Turnover of Purchase". So if either of the two crosses limit given, audit is applicable.
Link for reference: https://mahagst.gov.in/en/accounts-be-audited-certain-cases
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