Re: [aurangabad_ca] MVAT Audit - Urgent

Monday, March 29, 2010 12:32 AM By Livemail

 

Dear Vijay,
 
As per Sec. 61 (1) (b) (iv) / (v) of MVAT Act, your liqour dealer is liable for VAT audit for 2008-2009 as he has crossed the Tunover limit of Rs. 5,00 000/- in 2008-09.
Due date for VAT Audit for 2008-2009 is 31-03-2010 and you can upload your VAT audit for 2008-2009 by quoting the TIN no. obtained in May, 2009.
 
In the second case, if the turnover limit is crossed in April, 2009 then he is not liable to VAT audit for 2008-2009.
 
Regards.
 
On 3/28/10, Vijay Kalani <cacsvijaykalani@yahoo.com> wrote:
 

Dear Members
 
One of client is liquor dealer. He has started his business in Jan 2009 and has crossed his turnover of Rs. 5,00,000/- in 28 March 2009 but take vat number in May 2009. So whether he is liable to do VAT audit for the year 2008-09 as he has not file any return for 2008-09.
 
Suppose he has not covered Rs. 5,00,000/- and in April he has closed his business then whether he is liable for MVAT Audit, if yes then what about E-70 Form. He has not having TIN, so not possible to upload. Thus it means he is not liable to do audit.
 

With Thanks & Regards
 
CA Vijay R Kalani
M.Com, ACA, LCS, ICWAI (FNL)
Partner

M/s. Kalani Mantri & Associates
Chartered Accountants

Head Office:                                         Branch Office:
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