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
?????
Ketan Salunke (39 Points)
14 November 2018
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.
Ketan Salunke
(39 Points)
Replied 15 November 2018
devendra sarda CA
(PARTNER)
(53 Points)
Replied 16 December 2019
Check this press release ,as per point no. i) , turnover should be reckoned from july 2017 to March 2018 ( And not April 2017 to march 2018)
https://www.cbic.gov.in/htdocs-cbec/press-release/press_release_Clearification.pdf
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