Turnover limit applicable for vat audit (kerala)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2014
Dear Sir.
what is the gross turnover limit applicable for vat audit?
Is the purchase under section 6/2 are consider as a turnover for audit?
One of my client get notice for doing audit. but his sale turnover is 52 lakhs, and he is doing manufacture and his purchase under 6/2 is 44 lakhs. Is he under the limit of Vat audit or not.
what is the gross turnover limit applicable for vat audit?
Is the purchase under section 6/2 are consider as a turnover for audit?
One of my client get notice for doing audit. but his sale turnover is 52 lakhs, and he is doing manufacture and his purchase under 6/2 is 44 lakhs. Is he under the limit of Vat audit or not.
04 March 2014
1. Total turnover limit was Rs. 40 lakhs per annum upto FY 2009-10 and there after Rs.60 lakhs per annum.
2. Total turnover includes purchases covered u/s 6(2) meaning thereby tax audit provisions attracts in the cited issue.
2. Total turnover includes purchases covered u/s 6(2) meaning thereby tax audit provisions attracts in the cited issue.
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