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Criteria for vat audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 April 2013 What is the main Criteria for an Entity to come under VAT Audit as per M VAT Act ??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 July 2013 It is based on turnover. if the turnover exceeds Rs.1 crore then VAT audit apply
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 July 2013 Is turnover inclusive of VAT...??
Or is it Pure Turnover (Sale)...??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 July 2013 It is aggregate amount of sale price received from buyer. so inclusive of VAT only
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 July 2013 thnak u sir...
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