Res. sir
Pls. tell some experts on gst which turnover to be file Gst audit or Which limit to be file Gst audit.
Thank you.
6 Replies
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 08 May 2020
The turnover limit was enhanced to 5cr for FY 2018-19. So if turnover is less than 5cr, no audit required under GST.
Shivam RC
(Student)
(23683 Points)
Replied 08 May 2020
The Government vide Notification No. 16/2020 - Central Tax, dated 23.03.2020, has amended the CGST Rules 2017.
A new Proviso has been inserted in sub-rule (3) of Rule 80 of the CGST Rules 2017, which states that "Filing of FORM GSTR-9C i.e. RECONCILIATION STATEMENT and AUDIT REPORT for FY 2018-19 has been made MANDATORY only for those Taxpayers who Aggregate Turnover Exceeds Rs. 5 crore ".
Therefore, if your Aggregate Turnover is upto Rs. 5 crore then you are not required to file FORM GSTR-9C for FY 2018-19.
Regards
Shivam RC.
A new Proviso has been inserted in sub-rule (3) of Rule 80 of the CGST Rules 2017, which states that "Filing of FORM GSTR-9C i.e. RECONCILIATION STATEMENT and AUDIT REPORT for FY 2018-19 has been made MANDATORY only for those Taxpayers who Aggregate Turnover Exceeds Rs. 5 crore ".
Therefore, if your Aggregate Turnover is upto Rs. 5 crore then you are not required to file FORM GSTR-9C for FY 2018-19.
Regards
Shivam RC.
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