Institute of Chartered Accountants of India (ICAI) would submit a representation to Tamil Nadu Government to make VAT Auditing compulsory in the State. By compulsory auditing of VAT, as in Maharashtra, the Government would have lot of advantages, including identifying the revenue leakage, said Mr G Ramaswamy, General Council member.
The institute was now focusing on preparing its members to comply and be thorough with the proposed Goods and Service Tax, which would be in place by next year, by merging VAT and Service Tax, he said. To update the CA’s in different topics, a two-day Al l India Conference is being organised here from May 29, in which about 1,000 members and students are expected to participate.
