Kerla vat audit

This query is : Resolved

vijay sarkale (Querist)
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29 November 2013 Dear Sir,

Our head office is at Mumbai and branch at Kerla.
Our Kerla restaurant is under composite schem having vat @0.5% and no input credit.
Our turnover for that branch has exceeded 60 lacs for FY 12-13. and now audit is mandatory.
Do I need to prepare separate financials for Kerla branch and get it audited?
Our company has been audited and return is filed.

Regards,
Vijay

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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02 December 2013 at least, transaction relating to sale/purchase & stock transfer must be maintained separately along with T.B. for the State transactions.
you must get books of accounts audited for VAT purpose

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