Vat Audit Applicability
This query is : Resolved
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?
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
(Expert)
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
(Expert)
08 February 2009
Applicability of VAT Audit has nothing to do with taxability of Goods.
So VAT Audit is applicable.
So VAT Audit is applicable.
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