CA Mayur Todmal (Practicing CA) (7645 Points)
30 June 2013
Deepak Dargad
(Chartered Accountant....)
(9787 Points)
Replied 30 June 2013
Yes you are liable to Vat Audit.................Its requires gross turnover .
And also in Mvat any gross purchase or gross sales exceeds Rs 60 lakh .............Its liable to vat audit
work is worship
(Service)
(2728 Points)
Replied 30 June 2013
For VAT Audit, Gross Turnover is applicable and not Net Turnover.
AS per MVACT the turnover for tax audit is 60 Lakhs
IQBAL BADRUDDIN LAKDAWALA
(Proprietor)
(22 Points)
Replied 04 October 2013
what will be turnover of purchase or sales for vat audit
CA Mitesh N Kothari
(9821662799)
(391 Points)
Replied 10 October 2013
if we are showing it on net basis then also we are liable for VAT Audit??
CAclubindia
