21 November 2014
Dear All, One asseessee got register under MVAT Act on 10/03/2014. He deals in Tax free Product. My Query is: 1) while filing return for Q-4 data of Full quarter to be given or only for the period 10/03/2014 to 31/03/2014 2) Do he is liable to get his accounts audited if his turnover during the year is more than 1 cr in tax free product.
21 November 2014
Dear Sir, The asseessee has taken registation in VRS, so it will be open liability. Now my question is how i can give figure for full year when i got registration in between the year? also I m filing return for the period after effective date of registration only.
21 November 2014
01. You can give for the full period, what is the problem. Form 231 accepts the figures for full period.. 02. VAT audit is apllicable in your case.