Submission of balance sheet in dvat
Querist : Anonymous
Can any 1 Tell me what was the turnover limit for submission of balance sheet of FY 2009-10 in DVAT?
please refer https://www.caclubindia.com/forum/applicability-of-companies-act-2013-4-nov-14-285332.asp#.U2dDjqIVe8A
Querist : Anonymous
### **Turnover Limits for Submission of Balance Sheet:**
1. **For Large Dealers:**
- **Turnover Limit:** ₹1 crore or more.
- Dealers falling under this category were required to submit their audited balance sheets and profit & loss accounts.
2. **For Small Dealers:**
- **Turnover Limit:** Less than ₹1 crore.
- These dealers were not required to submit audited balance sheets, but they still needed to maintain proper books of accounts and file their returns.
### **Relevant Details:**
- **Filing Frequency:** Dealers with a turnover exceeding ₹1 crore were required to file their annual returns along with the audited financial statements.
- **Compliance Requirements:** Ensure proper documentation and adherence to the requirements specified under the DVAT Act for accurate reporting and compliance.
If you were operating under the DVAT Act during FY 2009-10, it was crucial to comply with these limits to avoid any issues with tax authorities. For accurate and detailed information, referring to the specific DVAT guidelines or consulting with a tax professional would have been beneficial.
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