Vat Audit
This query is : Resolved
CA Praveen Chopra
(Querist)
07 April 2008
Who is required for vat audit in gujrat.
sachin alwadhi
(Expert)
23 August 2010
14.1 Under Gujarat VAT, every dealer, registered or unregistered, liable to pay tax
and if his turnover of Sales or Purchases exceeds of rupees 1 Crore in any
year, than his accounts in respect of such year audited by an accountant (i.e.
Practising Chartered Accountants or Cost Accountants or Legal Practitioner or
Sales Tax Practitioner) within SIX MONTHS from the end of that year.
14.2 A copy of such audit report will required to be furnished by such dealer to the
Commissioner within 30 days from the date of obtaining audit report.
14.3 In case of any failure to furnish the copy of the report within the time
prescribed, the Commissioner may, after giving a reasonable opportunity,
impose in addition to the tax payable, sum by way of penalty maximum of
Rs. 10,000/-.
14.1 Under Gujarat VAT, every dealer, registered or unregistered, liable to pay tax
and if his turnover of Sales or Purchases exceeds of rupees 1 Crore in any
year, than his accounts in respect of such year audited by an accountant (i.e.
Practising Chartered Accountants or Cost Accountants or Legal Practitioner or
Sales Tax Practitioner) within SIX MONTHS from the end of that year.
14.2 A copy of such audit report will required to be furnished by such dealer to the
Commissioner within 30 days from the date of obtaining audit report.
14.3 In case of any failure to furnish the copy of the report within the time
prescribed, the Commissioner may, after giving a reasonable opportunity,
impose in addition to the tax payable, sum by way of penalty maximum of
Rs. 10,000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Oct 2025 Invoices
- MSME disclosure and disallowance
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
