scope of audit

This query is : Resolved

dhaval shah (Querist)
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19 July 2011 hello sir

my client has turnover of Rs. 5915000/- (excluding VAT) & having vat of Rs.203844/-.

Is it liable for audit ?

thank you

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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19 July 2011 If we consider section 145A that specifies the Accounting Methods and also Accounting Standards, it requires that all the purchases and sales should be inclusive of all the expenses, taxes and duties, whether refundable or not. So, in this case the turnover will be R. 61,18,844/- So, in my opinion, it is better to get books of accounts audited.

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