Friends, TO limit for MVAT Audit is 60L.
During the year 2012-13, Trading Op. Stock as on 1.4.2012 was 18L & Purchases were 9L.
Trading Sale during the year 12-13 was 24L.
Also Consignment sale of 58L.
Whether I am liable for MVAT Audit or not.
K P BHANUSHALI (PROPRIETOR) (512 Points)
26 December 2013Friends, TO limit for MVAT Audit is 60L.
During the year 2012-13, Trading Op. Stock as on 1.4.2012 was 18L & Purchases were 9L.
Trading Sale during the year 12-13 was 24L.
Also Consignment sale of 58L.
Whether I am liable for MVAT Audit or not.
Manish Bhandari
(C.A)
(496 Points)
Replied 26 December 2013
As per the defination of dealer it includes such person who buys or sells for commission etc...
So consignee sale will be treated as part of turnover as per my opinion.
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