Monday, September 2, 2013

AUDIT UNDER DELHI VALUE ADDED TAX (DVAT) CLAUSE BY CLAUSE PPT


on Monday, September 2, 2013

In India, VAT Audit is compulsory in all except 4 States, (subject to Turnover limits for the dealers) Himachal Pradesh, Haryana , Sikkim Delhi 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. As per section 40 of DVAT,If, in respect of any particular year, the gross turnover of a dealer exceeds one crore Rupees or such other amount as may be prescribed(10 crore as of now), then, such dealer shall submit a report in such manner, form and period as may be notified by the Commissioner. 

Introduction to VAT Audit The overall objective of the system is to maximize the collection of VAT Revenue by maximizing the level of voluntary compliance and by deterring evasion. The principle of checking of submitted returns by going through books of accounts has been assigned to the Professional Chartered Accountants.

A PPT on Audit report under DVAT by CA Sandeep Garg is given below .

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