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20 lakhs turn over

Jangam V Rao (56 Points)

15 July 2017

if the firm having 20 lakhs turnover. on what authenticity one has to accept it.

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5 Replies

c mathur (advocate) (24 Points)
Replied 15 July 2017

You need 2 keep complete record. Once it exceed 20L you need to get it audited by a .CA or cost accountant. Charu Mathur, Advocate Supreme Court of India

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Sunil Kumar Jhawar (85 Points)
Replied 16 July 2017

no need for audit....simply get registered if turnover exceeds 20 lacs...and gst will be prospective

c mathur (advocate) (24 Points)
Replied 16 July 2017

Registration will make it mandatory to file returns

(Guest)

on the authenticity of partners obviously...firm not being a living person, so partners are the person who will make sure that what turnover the firm has achieved on tha basis of books of accounts and bills raised...in case turnover exceeds , then get the firm registered