Is it mandatory for a dealer under VAT act to maintain quantative detail of its stock? If yes, pls mention the section under which it is mandatory.
Thanks
Piyush
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maintence of stock detail under VAT act?
Replies (3)
in karnataka they ask for us to certify even classification of stock .....
but many are using a disclaimer that stock records have not been maintained. I dont think maintenance of stock is compulsary....
TC
so praveen that means the department is not penalising the dealer who is not providing quantitative detail.
Piyush
As per the VAT Act, the CA has to confirm the maintainability of proper books of stock in VAT Form 704.
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