Mvat audit for builders

Rajesh Poddar (Chartered Accountant) (321 Points)

22 January 2012  

Dear Sir,

For MVAT audit for builders for the F.Y. 2010-2011,

Only one flat is sold for One crore.

Builder has already paid 1 % MVAT and filed form no. 232 accordingly under composition scheme.

This was the only sale transaction.

Now my query is that in form no. 704 we just need to show the sales price and 1 % vat accordingly and nothing to be shown in purchase column.

Also is the form no. 232 correct. ?

Please reply

Thanks

Rajesh Poddar