What all is to be submitted along with VAT audit report PLEASE REPLY.
Pranay Kothari (CA) (415 Points)
02 January 2009What all is to be submitted along with VAT audit report PLEASE REPLY.
CA Sudhir Halakhandi
(PRACTICING CHARTERED ACCOUNTANT)
(13401 Points)
Replied 02 January 2009
Dear Mr. Pranay Kothari
VAT is a state subject and every state has it's own law and prescribed the requirement of the VAT Audit report. Further all the states have not prescribed VAT audit for thier dealers. Further the turnover for which VAT audit is not the same for every state .
See when VAT was introduced in Delhi in 2005 I have studied it for VAT special of Chartered Accountant practice Journal (Then A journal of Mashbra Publication) and in Delhi at that time the submission of Income tax audit report was sufficient and no seperate requirement was prescribed at that time. Still the practice going on can only be tell you a Delhi Based CA.
In Rajasthan the VAT audit report is prescribed and further it required the statutory or Tax audit report as attachement.
Hence , the VAT audit is state subject and you have to read and go through the state VAT law of particular state to know what is required for VAT Audit.
- CA SUDHIR HALAKHANDI
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