Vat audit-urgent querry
This query is : Resolved
05 January 2012
In works contract turnover excluding labour on which service tax is billed donot exceeds 60 lakhs then VAT Audit under Maharashtra Act is applicable or not?????plz reply soon
thanks in advance
thanks in advance
22 January 2012
If turnover is purely of labour contract independantly, wherein no material is transferred it will not be consider in turnover.
If there is transfer of property in goods involved in execution of work contract iin such cases the labor part will be included in turnover of sale, if it exceeds limit of Rs. 60 Lakhs will be liable for Audit under MVAT Act.
If there is transfer of property in goods involved in execution of work contract iin such cases the labor part will be included in turnover of sale, if it exceeds limit of Rs. 60 Lakhs will be liable for Audit under MVAT Act.
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
