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of <h1>VAT Audit Guidelines for Dealers with Turnover Over Rs. 10 Crore for FY 2012-13 Released.</h1> The circular from the Department of Trade and Taxes, VAT Audit Branch, clarifies the audit process for dealers with a gross turnover exceeding Rs. 10 crore for the fiscal year 2012-13. It states that audits may commence after November 15, 2013, following the submission of Form AR-1. If the auditor's report in Form AR-1 is satisfactory and the dealer has deposited the required tax, further audit for the 2012-13 period may not be necessary. This directive was issued with the approval of the Commissioner, VAT, and distributed to relevant department officials for implementation.
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