Tripura VAT: No penalty for not getting accounts audited as audit report format was not notified

Pankaj Behari Saha Vs State of Tripura (Tripura High Court) Analysis of Section 53 of the TVAT Act would show that as per sub-section (1) thereof, for a dealer whose turnover crosses the prescribed threshold limit for any year, has to get his accounts audited within six months from the end of that year and obtained the report in the prescribed form setting forth such particulars as may be prescribed. Such report has to be furnished to the Commissioner by the end of the month after expiry of the period of six months allowed for completing the audit. It is when the dealer fails to do this, that ...