13 May 2008
In case of liquor dealer the audit under MVAT is compulsory even if the sale is below 40 Lacs. In such cases whether VAt Auditor should conduct regular audit over and above vat audit and attache that report with Form No. 704? or else no statutory audit report is required to be attached in such cases?
20 May 2008
Hi mihir! in such cases no statutory/ tax audit is required as seperate ACT govern seperate type of audit. there is no provision in MVAT Act to carry on such audit in case it is not applicable under respective act.
CAclubindia
