Whether VAT audit in Karnataka is applicable on a STPI unit? Said unit is only into the business of exporting services. Transaction in goods is only scrap sales. Further, their total turnover(including export of sales) crosses Rs 100 lakhs, with export of sales it very less- negligible. Plz advice.
05 December 2012
VAT audit is applicable on total turnover (incl. exempted sales, export TO) for Karnataka value added tax purposes. The present audit limit is Rs.1 Cr for the year 2011-12 and onwards. Hence you shall require to get your VAT audit done. for further clarification you can mail on email@example.com