Turnover limit

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Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2013 Please can anyone help me to tell that what is the turnover limit for West Bengal vat audit for the financial year 2012-13 in case of companies, partnership firms and proprietorship firm. Also last date for vat audit

CA.Shubhneet Kaur

CA.Shubhneet Kaur (Expert)
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12 November 2013 The ceiling for conducting VAT Audit as prescribed in Section 30E to be carried out by a Chartered Accountant or a Cost Accountant has been enhanced from Rs.3 Crore to Rs.5 crore for the financial year 2013-2014. Thus, for the financial year 2012-2013 the ceiling will remain at Rs. 3 Crore. However, all Private and Public Limited Companies have to carry out the said Audit irrespective of their Turnover of Sales or Contractual Transfer Price or Turnover of Purchases.

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