GST audit is applicable when aggregate turnover exceeds 2cr.
So for FY 17-18 , the turnover is to be considered from July to March 2019 only ? Turnover during first 3 months (April to June) shall be ignored for calculating Gst Audit applicability ?
5 Replies
Shivam RC
(Student)
(23683 Points)
Replied 07 August 2019
Yes....
For calculating the Aggregate Turnover of Rs.2 crore for GST AUDIT u/s 35(5) of the CGST Act 2017 read with Rule 80(3) of the CGST Rules 2017, you have to consider the turnover of JULY 2017 to MARCH 2018.
The same has also been clarified by the CBIC Department by way of Circular, Press Release...
Warm Regards.
For calculating the Aggregate Turnover of Rs.2 crore for GST AUDIT u/s 35(5) of the CGST Act 2017 read with Rule 80(3) of the CGST Rules 2017, you have to consider the turnover of JULY 2017 to MARCH 2018.
The same has also been clarified by the CBIC Department by way of Circular, Press Release...
Warm Regards.
Yash Morakhia
(107 Points)
Replied 08 August 2019
ok thanks
so it means for a client whose turnover for whole year exceeds 2crore but for 9 months of gst it is below 2crores so no audit applicable , right ?
so it means for a client whose turnover for whole year exceeds 2crore but for 9 months of gst it is below 2crores so no audit applicable , right ?
Anshul Jain
(Professional)
(190 Points)
Replied 08 August 2019
Yes, your interpretation is right. No audit requirement if turnover for July 17 to March 18 is below Rs. 2 Cr.
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