Though everyone is busy in GST returns. But do not forget that December month end comes with another deadline and that is VAT Audits.
Almost every state requires books to be audited by Chartered Accountant, for example in Karnataka due date for VAT 240 (VAT Audit form) is 31st December 2017 for financial year 2016-17.
Are you working on VAT Audits or missed them?
I have made a team in office only for VAT audit. A team is working on GST and another on VAT.
Is vat audit applicable for FY 17-18 also? For example, in Karnataka VAT audit turnover limit is 1 crore. If someone crossed 1 crore in 17-18 first 3 months, he needs to get VAT audit done in 2017-18?
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