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Ratios in form 704

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Ravi Dasija

C.A.

221 Points Posted on 11 January 2013

Dear Firends/ Seniors

One of my client has VAT audit for the first time for the Financial Year 2011-12, can any one please tell me whether it is mandatory to give ratios for the previous Financial year that is 20110-12 in Annexure F

Thanks in Advance

Warm Regards

Ravi Dasija

Replies (1)

Vikas

Accountants & Tax Consultant

22 Points Posted on 12 January 2013

One of my client has VAT audit for the first time for the Financial Year 2011-12, can any one please tell me whether it is mandatory to give ratios for the previous Financial year that is 20110-12 in Annexure F

Yes, according to me you will have to give figures of previous year even if the firm or co. was not under Audit the the previous year.