Question

What is ‘Audit’? What are the provisions of ‘Audit’ under M.VAT Act. 2002?

Answer 1

ANSWER

As per Section 61(1) of the MVAT Act, 2002, audit is applicable to A dealer who is liable to pay tax and his turnover, either of sales or purchases, exceeds Rs. 60 Lakhs during the Financial Year A dealer who holds a Liquor license in Form PLL, BRL, E, FL or CL.

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