VAT Audit is not required for those below turnover of Rs. 1 Crore for financial year 201213 for which VAT 20 is to be filed by 20-11-2013.

VAT Audit is not required for those below turnover of Rs. 1 Crore for financial year 201213 for which VAT 20 is to be filed by 20-11-2013.

In a recent clarification by DETC (VAT) dated 28-10-2013, it is made clear that enhanced limit for VAT Audit shall be applicable for the FY 201213 for which VAT 20 is to be filed by

20-11-2013.

For the Financial Year 2012-13 if turnover of a dealer is less than 1 Crore, Certification of VAT 20 by Chartered Accountant shall NOT be required.

 

Text of Clarification

'It is clarified that the enhanced limit for Audit from 50 Lacs to 1 Crore will be applicable for the year  2012-13  for which VAT 20 is to be filed by 20-11-2013’

Clarification by DETC (VAT)

dated 28-10-2013'