Required information about VAT Audit.
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KIRTI TULSYAN
Dec 28, 2012, 12:25:16 AM12/28/12
to forum4ca
Hello Friends,
I wanted to know the applicability or threshold (turnover) limit for WB
VAT Audit on Private Companies for FY 2011-12.
--
*Thank You
Best Regards
*
*Piyush Bothra
24, R. N. Mukherjee Road, 3rd. Floor, "RAJA TERRACE"
Kolkata - 700001
Phone : 2248-6667 / 0268 , 4008-3021*
*Fax : 2213 3571
Mobile : 98310 92982 *
*Our New E-Mail : **kr...@airtelmail.in* <kr...@airtelmail.in>
**
--
I wanted to know the applicability or threshold (turnover) limit for WB
VAT Audit on Private Companies for FY 2011-12.
--
*Thank You
Best Regards
*
*Piyush Bothra
24, R. N. Mukherjee Road, 3rd. Floor, "RAJA TERRACE"
Kolkata - 700001
Phone : 2248-6667 / 0268 , 4008-3021*
*Fax : 2213 3571
Mobile : 98310 92982 *
*Our New E-Mail : **kr...@airtelmail.in* <kr...@airtelmail.in>
REPLY 1
There is no threshold limit for VAT audit in case of Company assessees.
Thanks and regards
CA Manish Yaduka
email : man...@yadukagroup.com
M : +91 9831606060
Thanks and regards
CA Manish Yaduka
email : man...@yadukagroup.com
M : +91 9831606060
REPLY 2
As far as I know the threesold limit for WB VAT Audit on Private Companies
for FY 2011-12 is same as before i.e. *Rs 3 Crore* as per Trade Circular
No.17/2012 dated 9/11/2012.
for FY 2011-12 is same as before i.e. *Rs 3 Crore* as per Trade Circular
No.17/2012 dated 9/11/2012.
haider ali
REPLY 3
Dear Mr. Jalan,
This is with reference to the query raised in the trailing mail.
In this regard, Rule 44(3) of the WB VAT Rules, 2005 states that every
registered dealer, being a Public Limited or Private Limited Company shall
within 31st December from the end of the year, submit audit report along
with copy of Audited P&L A/c and Balance Sheet. Hence, there is no threshold
limit for Companies to file Audit Report. For every Registered dealer, other
than Company, the threshold limit applicable is INR 1.50 Crs.
Hope the aforesaid clarifies your query. In case you require any further
clarification, please let me know.
Thanks & Regards,
CA Vikram Khaitan
Director- ARV Advisory Services (P) Ltd.
This is with reference to the query raised in the trailing mail.
In this regard, Rule 44(3) of the WB VAT Rules, 2005 states that every
registered dealer, being a Public Limited or Private Limited Company shall
within 31st December from the end of the year, submit audit report along
with copy of Audited P&L A/c and Balance Sheet. Hence, there is no threshold
limit for Companies to file Audit Report. For every Registered dealer, other
than Company, the threshold limit applicable is INR 1.50 Crs.
Hope the aforesaid clarifies your query. In case you require any further
clarification, please let me know.
Thanks & Regards,
CA Vikram Khaitan
Director- ARV Advisory Services (P) Ltd.
**
Best Regards,
Kirti Tulsyan
B.Com.,ACA,CS
P.D.Rungta & Co.
Chartered Accountants
Board : +91 33 3028 2500 / 1
Direct Line : +91 33 3028 2502/3
Cell : +91 9830174619
Kirti Tulsyan
B.Com.,ACA,CS
P.D.Rungta & Co.
Chartered Accountants
Board : +91 33 3028 2500 / 1
Direct Line : +91 33 3028 2502/3
Cell : +91 9830174619
email: caktu...@gmail.com
Head Office:
21, Hement Basu Sarani, 3rd Floor , Room .No.317
Kolkata-700 001,West Bengal, India
Branches :
Bhagalpur | Khatima | Mumbai | Ahemdabad | Bangalore
Homepage : http://www.pdrungta.co.in/
“Save Paper! Save Trees! Before printing, Think about the environment”
A Candle loses nothing by lighting another candle" --- eServe
Head Office:
21, Hement Basu Sarani, 3rd Floor , Room .No.317
Kolkata-700 001,West Bengal, India
Branches :
Bhagalpur | Khatima | Mumbai | Ahemdabad | Bangalore
Homepage : http://www.pdrungta.co.in/
“Save Paper! Save Trees! Before printing, Think about the environment”
A Candle loses nothing by lighting another candle" --- eServe
Best Regards,
Kirti Tulsyan
B.Com.,ACA,CS
P.D.Rungta & Co.
Chartered Accountants
Board : +91 33 3028 2500 / 1
Direct Line : +91 33 3028 2502/3
Cell : +91 9830174619
Kirti Tulsyan
B.Com.,ACA,CS
P.D.Rungta & Co.
Chartered Accountants
Board : +91 33 3028 2500 / 1
Direct Line : +91 33 3028 2502/3
Cell : +91 9830174619
email: caktu...@gmail.com
Head Office:
21, Hement Basu Sarani, 3rd Floor , Room .No.317
Kolkata-700 001,West Bengal, India
Branches :
Bhagalpur | Khatima | Mumbai | Ahemdabad | Bangalore
Homepage : http://www.pdrungta.co.in/
“Save Paper! Save Trees! Before printing, Think about the environment”
A Candle loses nothing by lighting another candle" --- eServe
Head Office:
21, Hement Basu Sarani, 3rd Floor , Room .No.317
Kolkata-700 001,West Bengal, India
Branches :
Bhagalpur | Khatima | Mumbai | Ahemdabad | Bangalore
Homepage : http://www.pdrungta.co.in/
“Save Paper! Save Trees! Before printing, Think about the environment”
A Candle loses nothing by lighting another candle" --- eServe
op...@rediffmail.com
Dec 29, 2012, 1:13:21 AM12/29/12
to foru...@googlegroups.com
Dear Mr. Khaitan
Isn't the threshold limit for audit of non companies 3 Cr. instead of 1.5 Cr.?? Since the circular 17 seems not very clear in its language and Form 88A being deferred, non companies shall have to submit audit report only if it crosses 3 cr.
Kindly clear this.
Regards
Isn't the threshold limit for audit of non companies 3 Cr. instead of 1.5 Cr.?? Since the circular 17 seems not very clear in its language and Form 88A being deferred, non companies shall have to submit audit report only if it crosses 3 cr.
Kindly clear this.
Regards
Sent on my BlackBerry® from Vodafone
From: KIRTI TULSYAN <caktu...@gmail.com>
Sender: foru...@googlegroups.com
Date: Fri, 28 Dec 2012 10:55:16 +0530
To: forum4ca<foru...@googlegroups.com>
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Subject: [CA RUNGTA PD] Required information about VAT Audit.
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HARI RAM AGARWAL
Dec 31, 2012, 5:59:23 AM12/31/12
to FORUM FOR CA GOOGLE GROUP
Dear All,
Trade Circular No.17 dt.09/11/2012 is very clear that non Corporate Registered Dealers with Turnover of sales/ contractual transfer price or both not exceeding Rs.3 cr. are not required to submit form 88 from the financial year 2011 - 12 onwards. Hence Corporate Registered Dealers have no such threshold limit.
ubject: Re: [CA RUNGTA PD] Required information about VAT Audit.
Trade Circular No.17 dt.09/11/2012 is very clear that non Corporate Registered Dealers with Turnover of sales/ contractual transfer price or both not exceeding Rs.3 cr. are not required to submit form 88 from the financial year 2011 - 12 onwards. Hence Corporate Registered Dealers have no such threshold limit.
ubject: Re: [CA RUNGTA PD] Required information about VAT Audit.
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