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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- RCM and same line
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
