Tax audit and vat audit
Querist : Anonymous
Eg; Nature of Business = Purchase of computer and its parts and selling on retail basis. Also taking contract for computer maintenance.
I have filed VAT return showing sales as 55 lacs. I have also recd Labor charges for 6 Lacs. M i liable for TAX Audit(Ay12-13 Limit 60 Lacs). If yes M i liable for VAT Audit?
.
Turnover limit for VAT Audit is State wise and if you are from Gujarat it is Rs. 1 Crore.
.
Querist : Anonymous
Now i have 1 more query 55 lacs is Excluding VAt so if i have nt collected that labour chages, bt total sales 55 lacs and i have collected Vat of 12.5 % amts to 6.87 lacs. Sofor TAx Audit and VAT audit Turnover purpose i have to consider VAT. (M taking Setoff on Purchases).
Guidenance note on tax audit.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- Advances to related party
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- LLP audit and disclosure
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation error
- Capital gains in IT returns
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
