Rule 42A - Gross turnover limit for accounts to be audited. (section 49) - Delhi Value Added Tax Rules, 2005

Gross turnover limit for accounts to be audited. 2 [ 42A . For the purpose of Section 49 , a dealer whose gross turnover in a year exceeds one crore rupees, shall get his accounts of such year audited by an accountant, and shall be liable to submit a report, as notified by the Commissioner, from time to time: PROVIDED that the Commissioner may, by an order, require a dealer or class or classes of dealers, to submit a simplified version of the report in lieu of report notified by him under Section 49 , PROVIDED FURTHER that the Commissioner may, by an order, exempt a dealer or class or classes of dealers, from furnishing a report, for the purpose of Section 49 .] ------------------------------------------------- Notes:- 1. Inserted vide Notification No.F.3(23)/Fin(Rev-I)/2011-12/DSIII/68, dated 27.01.2012 w.e.f. 27.01.2012. 2. Substituted vide Notification No.F.3(15)/Fin.(Rev-I)/2012-13/dsVI/264 Dated 30/03/2013. Before it was read as 1 [42A. A dealer whose gross turnover in a year exceeds the prescribed limit as fixed for the purpose, under section 44AB of the Income Tax Act, 1961 as amended from time to time or any other law substituting the Act, he shall get his accounts of such year audited by an accountant, as per the provisions of section 49 . ]