MVAT Audit
This query is : Resolved
26 December 2008
I AM RUNNING A COUNTRY LIQUOR SHOP SINCE DEC 2007.
IN CURRENT FINANCIAL YEAR I CROSSED RS. 500000 LIMIT SO I TAKE REGISTRATION IN CURRENT YEAR.
BUT IN LAST YEAR I DID NOT TAKE REG. AS I AM BELOW LIMIT.
SO NOW QUESTION IS WHETHER I HAVE TO AUDIT UNDER MVAT FOR THE LAST YEAR ALSO EVEN THOUGH I AM NOT DEALER.
IN CURRENT FINANCIAL YEAR I CROSSED RS. 500000 LIMIT SO I TAKE REGISTRATION IN CURRENT YEAR.
BUT IN LAST YEAR I DID NOT TAKE REG. AS I AM BELOW LIMIT.
SO NOW QUESTION IS WHETHER I HAVE TO AUDIT UNDER MVAT FOR THE LAST YEAR ALSO EVEN THOUGH I AM NOT DEALER.
C A GROUP COACHING
(Expert)
26 December 2008
DEFINATION OF DEALER MEANS A PERSON IN BUSINESS OF SALES & PURCHASE.
YOU HAVE TO GET YOUR ACCOUNTS AUDITED EVEN UNDER IT ACT & VAT AUDIT REPORT ALSO TO BE SUBMITTED BY YOU
CHANDRAKANT AMBANI
BOMBAY
9819408963
9821240674
YOU HAVE TO GET YOUR ACCOUNTS AUDITED EVEN UNDER IT ACT & VAT AUDIT REPORT ALSO TO BE SUBMITTED BY YOU
CHANDRAKANT AMBANI
BOMBAY
9819408963
9821240674
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