Vat Audit Applicability

This query is : Resolved

Poonam (Querist)
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17 January 2009 Sir

One of our Client is having two business
1] Sale of Tax free Goods
2] sale of Poultry feeds

In first case turnover is not exceeding 40 lac
In second case turnover exceed 40lac but there is no Vat on sale or purchase.

As there is sale of tax free goods only.....
so is Vat Audit Apllicable under M Vat Act?

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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17 January 2009 if your sales or ourchases are in excess of rs 40 lakhs then you are liable to get your a/c audited in income tax as wel as in vat so you will audit your a/c's in time

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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08 February 2009 Applicability of VAT Audit has nothing to do with taxability of Goods.
So VAT Audit is applicable.

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