Vat audit
This query is : Resolved
Prashant Nayak
(Querist)
07 August 2012
I am a dealer in Petrol, Diesel & Lubricants. My Annual Turnover is 11 crores. VAT is applicable only on Lubricants whose Annual Turnover is 9 lacs. Whether I am liable to furnish Audit Report under MP VAT Act?
Amol S Joglekar
(Expert)
07 August 2012
Yes. VAT audit is applicable. It does not make any distinction between taxabe sale and non txable sale.
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