Turnover for vat audit under mvat act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2013
Respeted al CCI expert,
Please tell me whether turnover or gross turnover liable to vat audit?
And what includes in turnover of sale?
suppose,
I have net sales (exluding vat) Rs 5800000.00 and vat on it is Rs 225000.00 whether I am liable to vat audit under mvat act.????
Please tell me whether turnover or gross turnover liable to vat audit?
And what includes in turnover of sale?
suppose,
I have net sales (exluding vat) Rs 5800000.00 and vat on it is Rs 225000.00 whether I am liable to vat audit under mvat act.????
Barish Agrawal
(Expert)
27 June 2013
Gross turnover is liable to vat audit. In ur case u are liable to vat audit under mvat act.
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