Purchases exceed 40.00 Lacs but sales doen nt
This query is : Resolved
12 July 2008
Sir,
If purchases net of VAT exceed 40.00 Lacs and sales net of VAT does not exceed , then in that case whether Tax Audit is compulsory or not?
If purchases net of VAT exceed 40.00 Lacs and sales net of VAT does not exceed , then in that case whether Tax Audit is compulsory or not?
12 July 2008
Not compulsory
12 July 2008
Sir,
If purchases net of VAT exceed 40.00 Lacs and sales net of VAT does not exceed , then in that case whether Tax Audit is compulsory or not?
If purchases net of VAT exceed 40.00 Lacs and sales net of VAT does not exceed , then in that case whether Tax Audit is compulsory or not?
12 July 2008
No - The condition is only on Sales and not on purchases.
What is considered for whether audit is applicable or not is Turnover, Total Sales or Gross Receipts.
What is considered for whether audit is applicable or not is Turnover, Total Sales or Gross Receipts.
12 July 2008
Turnover for tax audit purpose includes VAT. If the TO inclusive of VAT exceeds 40L, tax audit is applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Sales amount in Gstr1
- TDS Claim year
- Supply through E-commerce Operators
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Agriculture income or business income
- REGARDING SECTION 44AE
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- REGARDING GST LIABILITY/....
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
