VAT-Audit Karnataka

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Fazal (Querist)
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28 December 2010 Sir,

Software company having export turnover (Software) exceeds 40 Lacs, fully exempted from VAT. Weather VAT audit under Karnataka VAT Act is applicable to this company?

CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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28 December 2010 What about the local sales with in the State of Karnataka?
If the Total turnover exceeds 40 lakhs, VAT audit is mandatory.
The words "Taxable turnover" was replaced by the words by "Total Turnover" by the KVAT amendment effecting from 01.04.2009 onwords.....

Ajay Mishra

Ajay Mishra (Expert)
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28 December 2010 Hope following link will help you:

220.227.161.86/20904frpubcd_idtc2.pdf

https://www.saralvat.com/articles/new-vat-forms.php

https://allindiantaxes.com/vat-karnataka.php

CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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28 December 2010 Whether a dealer selling exempted goods under the KVAT Act,2003 & under the CST Act, 1956 and having a total turnover more than Rs. 40 lakhs will be liable for Audit?

Yes. Audit will be applicable to dealers dealing in exempt goods under KVAT / CST Acts depending on the assessment year

Fazal

Fazal (Querist)
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29 December 2010 Sir,

My doubt is weather providing services (software services, Labuor contract etc) comes to the purview of Turnover definition?

CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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29 December 2010 Yes.
Whether in monthly VAT 100 return are you not decalring this values?

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