Turnover under mvat act
This query is : Resolved
Sagar Jataniya
(Querist)
04 January 2012
Dear all,
I want to know whether tax-free turnover of sales is considered for the purpose of audit u/s 61 of MVAT Act
and also
whether turnover of labour charges or Works contract is considered for the purpose of audit u/s 61 of MVAT Act
your answer will be highly appreciated,
thanking you in advance,
sagar
I want to know whether tax-free turnover of sales is considered for the purpose of audit u/s 61 of MVAT Act
and also
whether turnover of labour charges or Works contract is considered for the purpose of audit u/s 61 of MVAT Act
your answer will be highly appreciated,
thanking you in advance,
sagar
Prakash Kochar
(Expert)
05 January 2012
Turnover of sale of tax free goods and turnover of receipts from work contract will be consider for purpose of audit where as pure labour charges from job work where in no goods are transferred will not be consider for purpose of turnover of sale or purchase u/s. 61 of MVAt Act.
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