Mandatory VAT audit requirement: chartered accountants must submit AR1 and follow standards; selected dealers may face special audit. The circular mandates a VAT Audit by Chartered Accountants for dealers meeting the prescribed turnover threshold, requiring submission of the prescribed AR1 Audit Report for the specified financial year within the stated timeline; audits must strictly follow the DVAT Act, VAT Rules and related departmental guidance. Selected dealers may undergo Special Audit based on risk profiling; audit reports will be peer-reviewed and compared with system profiles, with panel membership and disciplinary referrals contingent on report quality and timeliness.
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Provisions expressly mentioned in the judgment/order text.
Mandatory VAT audit requirement: chartered accountants must submit AR1 and follow standards; selected dealers may face special audit.
The circular mandates a VAT Audit by Chartered Accountants for dealers meeting the prescribed turnover threshold, requiring submission of the prescribed AR1 Audit Report for the specified financial year within the stated timeline; audits must strictly follow the DVAT Act, VAT Rules and related departmental guidance. Selected dealers may undergo Special Audit based on risk profiling; audit reports will be peer-reviewed and compared with system profiles, with panel membership and disciplinary referrals contingent on report quality and timeliness.
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