The VAT Audit Report Effective From FY 11-12

The CT Department by issuing the notification No. 25 dtd. 8-5-12 made the VAT Audit Report effective from the Financial Year 11-12. The dealer having turnover above Rs. 10 crore have to submit VAT Audit Report in Form No. 41-A before 31 October. The dealer having turnover between Rs. 60 lac to Rs. 10 crore may produced the Audit Report prepare for the purpose of Income Tax along with details of business done in the State of M.P. The dealer to deals in the ceertain items declared by the State of M.P. has to produce Audit Report  in Form No. 41-A even if there turnover is below Rs. 10 crore.