Dear sir,
A registered Dealer in TN is requesting us to do vat audit under TNVAT for FY 2012-13 . The due date for submission of audit report is 31 Dec 2013. Is there any bar to conduct audit for the old period and submit report at current date now ? What type of qualification in audit report for the delay by the Dealer is suggested ? Dealer has to pay penalty of Rs.10,000 for the delay.
-Shekar R
Dealer Faces Rs.10,000 Penalty for Delayed VAT Audit Request for 2012-13; Chartered Accountant Required for Compliance A registered dealer in Tamil Nadu requested a VAT audit under TNVAT for the fiscal year 2012-13, with the original submission deadline being December 31, 2013. The dealer inquired about conducting the audit now and the implications of the delay. It was noted that the dealer would incur a penalty of Rs.10,000 for the delay. One response questioned if the issue was clarified, while another emphasized that a chartered accountant must conduct the audit to avoid penalties for non-compliance. (AI Summary)
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