In Gujarat, every registered dealer whose total turnover in respect of any particular year exceeds such amount, not being less than rupees one crore within which taxable turnover exceeds rupees twenty lacs, is required to get his accounts verified and audited by specified authority. The due date of obtaining VAT Audit report is 9 months from the end of relevant financial year. VAT Audit Report is required to be submitted to the Commercial Tax Officer within 30 days from the date of obtaining such Audit Report.
FINMART assists you in finding out the applicability of VAT Audit for the state your business belongs to and legal compliances of the same.
Any individual or any sovereign entity carrying out inter-state and intra-state sales is eligible for the Audit Compliance Service.
The documents needed vary from case to case. Let FINMART understand your needs and assist you in documents requirement.
The Total Turnover constitutes the below mentioned
The following items can be taken under Input Tax Credit: