Criteria for vat audit
This query is : Resolved
17 December 2014
A company has a turnover of over Rs 1 Cr. however the vat rate on its sales, i.e. output tax is @ 0%. will the company still be liable for VAT Audit under the "Maharashtra Vat Act"?
17 December 2014
VAT audit is based on turnover not on vat liability.
If assessee crossed threshold limit of VAT, Audit becomes mandatory.
If assessee crossed threshold limit of VAT, Audit becomes mandatory.
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20 December 2014
audit always on basis of the turnover not on the vat rate.
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