Whether it is mandatory in to reconcile annual Sales and Purchases figure or 1Qtr figures with Figures reported in Sales tax return in Annexure K of Vat Audit Report 704
10 Replies
rupesh raut
(27 Points)
Replied 10 January 2019
Yes?
Whether annual figures or 3 Months Figures needs to be reconciled
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 10 January 2019
3 months trading and turnonver as per return figure must be reconciled.
rupesh raut
(27 Points)
Replied 10 January 2019
There is any Notification or Circular is available regarding this ?
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 10 January 2019
Check in instruction page line no. 53 point no. 26 of form
rupesh raut
(27 Points)
Replied 10 January 2019
Line no. 53 or Point No. 26 mandates only determination but it does not specify Period of Reconciliation
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 10 January 2019
If your audit report is for 3 months then obviously reconciliation will also be for 3 months only.
rupesh raut
(27 Points)
Replied 10 January 2019
Ok... Department has not Issued any Circular regarding this?
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