IN MAHARASHTRA VAT AUDIT LIMIT FOR THE PERIOD APR 2017 TO JUNE 2017 IS 25 LAKH. DOES TURNOVER OF 25 LAKH INCLUDES TAX OR VAT AMOUNT.PLEASE HELP
2 Replies
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 08 March 2019
Yes, definition of turnover in MVAT Act includes the tax/Vat amount to calculate turnover
kajol
(Executive)
(201 Points)
Replied 11 March 2019
If the turnover exceeds Rs 25 lakhs, then VAT Audit is compulsorily.
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