VAT Audit relief to MSME Under WB VAT

Dr. Amit Mitra Finance Minister In-Charge West Bengal Said in his Budget speech that  audit report by a chartered accountant has to be compulsorily filed by the dealers. We had earlier provided relief to small dealers by gradually increasing the threshold from Rs. 1 crore to Rs. 5 crores. Sir, for the development of MSMEs and small dealers of the State, I propose to increase the threshold from Rs.5 crore to Rs.10 crore.

The dealers with annual turnover of less than Rs. 5 crores are required to file a self-audit statement. I now propose to do away with filing of self-audit statement by dealers with an annual turnover of less than Rs. 10 crores.