Vat audit

Save Share

This query is : Resolved

RAVI PATEL (Querist)

18 April 2012 If an entity having Total Turnover not less than Rs. 1 crore and Taxable Turnover having Rs. 20 Lacs, then it must required to get audited its books of accounts for VAT Audit.

My question is that whether both conditions are required to be satisfied ???

If any entity having turnover more than 15 crore but the same products fully exempt from Vat then in that case whether it is required to do Vat Audit?????

Its in Gujarat State

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)

19 April 2012 For which state u r asking

RAVI PATEL

RAVI PATEL (Querist)

20 April 2012 its in Gujarat State.

Even I want a vat audit report format of Chandigarh state . .if you have then provide me...
Thanks

Regards:
CA.Ravi Patel

Rohan Desai

Rohan Desai (Expert)

26 April 2012 The turnover limit for Gujarat VAT is 1 Cr out of which taxable turnover should be 20 lacs. Further to the same turnover means purchase or sales side.
For eg. If a dealaer is a cloth manufacturer and if he purchases yarn worth 2 Cr. and sells cloth worth 2.5Cr he is requiered to be audited.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now