I wanted to know whether in the turnover limit of 60 lacs for tax audit - VAT is included or excluded. i.e. is it nett sales of 60 lacs exclusive of VAT or not.
Thanks
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Turnover limit for tax audit
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Dear Anant,
U r right, the limit shud be seen exclusive of Vat. Because VAT goes to separate account.......
60 lakhs exlusive of VAT !! VAT is never included in "TURNOVER"
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