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GST Audit Applicablity or Period

14 November 2018

GST Audit Applicability for the F.Y. 2017-18

How to take period for turnover of GST Audit limit of Rs. 2 Crore

From
April 2017 to March 2018

Or

July 2017 to March 2018

?????

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5 Replies

Vijay Sharma (24 Points)
Replied 14 November 2018

April 17 to March 18

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Ketan Salunke (39 Points)
Replied 14 November 2018

Ok Thank you Sir

CA Priyanka Sarda (2 Points)
Replied 14 November 2018

As per Sec 35 of CGST Act,2017, every tax payer whose aggregate turnover exceeds Rs.2 crore during a financial year, is required to submit an audited annual accounts and reconcilliation statement in GSTR-9C.

Aggregate Turnover is PAN india basis but audit shall be conducted for every GSTIN taken.

Normally GST Audit is to be conducted for whole of the financial year i.e from april to march, but as GST has been iimplemented from july 2017, AUDIT for this F.Y.2017-18 shall be from July 2017 to March 2018.