whether liable to vat audit
This query is : Resolved
17 November 2008
assesse is partnership firm in Gujarat, it is doing business of embroidery labour, During its course of business it has to purchase material amounting to rs. 25,00,000/- on which it has to pay VAT, the turnover of Business has exceeded Rs 1,00,00,000/-(basic limit for VAT in Gujarat),so whether assesse is liable to Vat audit?
17 November 2008
Yes, if the assessee has crossed the limit then they are liable to Tax Audit. Also note that now VAT Audit is to be done by CAs only, now Advocates cann't do VAT Audit.
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 on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
