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audit turnover for 2017-18 under mvat

18 June 2018

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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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8 Replies

Vinod Babu (24196 Points)
Replied 18 June 2018

I think it is not necessary.
Anyway you take a advice from your commercial tax officer regarding this, as this is concerned to Vat.

2 Like

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vikram kerekar (1244 Points)
Replied 19 June 2018

the limit us 25 lac than mvat audit is compulsory...

2 Like

CA S Praveen Kumar Reddy (Chartered Accountant) (2195 Points)
Replied 19 June 2018

Yes mandatory

SHAILESH R THAKKAR (proprietor) (22 Points)
Replied 10 November 2018

IS THERE ANY CIRCULAR FOR THE SAME REGARDING TURNOVER LIMIT OF RS.25,00,000/-

keyur? (accounts) (48 Points)
Replied 17 November 2018

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???

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Madan Bhumkar (article assistent) (29 Points)
Replied 25 December 2018

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?

vikram kerekar (1244 Points)
Replied 25 December 2018

same question with me what can do.

Aditya Jadhav (Articled Assistant) (22 Points)
Replied 31 December 2018

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