KVAT threshold

sahana Murthy (Student) (123 Points)

16 January 2008

Hi All

Does any one know what is the minimum threshold for Karnataka VAT audit requirement. Also mention the circular number, if any specifying such limits.

Thanks

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4 Replies

CA. Amit Daga (Finance Controller CA. CS. CFA. CIFRS. M.COM. ) (9017 Points)
Replied 16 January 2008

Hi Sahana As per KVAT if the Taxable turnover exceeds Rs.25lacs then the dealer should get his accounts audited under KVAT and last date is 31st dec

(Guest)

for the f.y. 07-08 the limit has been raised to 40 lakhs

CA. Amit Daga (Finance Controller CA. CS. CFA. CIFRS. M.COM. ) (9017 Points)
Replied 18 January 2008

Thanks guru for amending me

Rajashekhar (Accountant ) (21 Points)
Replied 27 July 2011

now its 60 lacks i guess proposal to increase to 1 Crore

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