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.
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Mvat audit turnover
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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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