What is the turnover limit for VAT audit in Maharashtra?

Turnover of taxable 1,00,000/- and Rs. 5,00,000/- is in respect of Turnover of Sales (which includes all sales whether tax free or taxable), the turnover limit of Rs. 10,000/- is in respect of taxable goods whether purchased or sold.

What is MVAT audit?

Part-II under Mvat audit: Under this Auditor is require to file the General information about the dealer business activities like email id, Mobile, Landline no., PAN of the dealer, Name of dealer, Trade name of dealer( if any), Address of the dealer, Additional place of business of dealer if any.

What is Form 301 MVAT?

The dealer shall have to make application for cancellation of assessment in Form 304 as per Rule 24 (1). Notice in such cases is issued in Form 301 calling the dealer to attend & to produce or cause to be produced evidence i.e. books of account & other documents/evidence in support of the returns filled by him.

What is Form 302 MVAT?

FORM VAT-302 NOTICE FOR PRODUCTION OF DOCUMENTS [Refer sub-rule (2) of rule 45] 01.

What is turnover limit for VAT audit?

As per the KVAT Act 2003, a dealer is liable for a VAT audit when his turnover exceeds Rupees 1 Crore in a financial year.

How many types of VAT audit are there?

3 types
VAT audit can be classified into 3 types: General audit.

How many types of VAT audits are there?

Who is auditor of company?

Who Is an Auditor as per Company Law? An auditor is a trained individual who reviews, checks, and verifies the accuracy and genuineness of financial records maintained by companies. These individuals also help companies ensure that they comply with Indian tax laws and protect businesses from fraud.

How do I file 307 MVAT online?

Quick steps to complete and eSign Form 307 Mvat online: Utilize the Circle icon for other Yes/No questions. Look through the document several times and make sure that all fields are completed with the correct information. Insert the current Date with the corresponding icon. Add a legally-binding eSignature.

What is the Form 302?

An FD-302 form is used by FBI agents to “report or summarize the interviews that they conduct” and contains information from the notes taken during the interview by the non-primary agent. It consists of information taken from the subject, rather than details about the subject themselves.

Which audit is compulsory by the law?

Statutory Audit as the name suggests is a compulsory audit for all companies. Every entity which is registered under the Companies Act, as a Private Limited or a Public Limited company has to get its books of accounts audited every year.