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Vat Audit Consultant In Chennai, Tnvat Audit Consultant In Chennai

Vat Auditors In Chennai

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Till recently, Delhi was a part of this list. However, the Delhi Government has notified that a Dealer with a Turnover of over Rs. 10 crore has to submit a VAT Audit report. If, in respect of any particular year, the gross turnover of a dealer exceeds sixty lakh rupees or such other amount as may be prescribed, then, such dealer shall submit a report in such manner, form and period as may be notified by the Commissioner.

S.No Nature of the Dealer –Based upon Turnover Nature of the Dealer –Based upon Turnover
1 Dealers whose Gross Turnover does not exceed Rs. 1 crore Not liable for VAT Audit
2 Dealers whose turnover exceeds Rs. 1 crore but is less than Rs. 10 crore Form of Audit Report and its time and manner yet to be notified by the Commissioner.
3 Dealers whose Gross Turnover is Rs. 10 crore or more. 1) Dealers exclusively dealing in Commodities listed in first schedule to the ACT 2) Dealers with 100 % export Turnover.

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