Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

GST Audit turnover limit

pritesh (CA Final student) (7101 Points)

11 May 2019

While calculating gst audit limit turnover of whole fy need to be CONSIDER or for 9 months only?

Reply
Follow
Share

10 Replies

RAJA P M ("Do the Right Thing...!!!") (127877 Points)
Replied 11 May 2019

As per discussion with GST officials., They told it's conducted from April to March...

Upgrade to CAclubindia Pro. Subscribe Now!

pritesh (CA Final student) (7101 Points)
Replied 11 May 2019

any circular?

RAJA P M ("Do the Right Thing...!!!") (127877 Points)
Replied 11 May 2019

No...

caamarrai7349@gmail.com (21 Points)
Replied 11 May 2019

as per our institute ICAI cercular limit should be taken for 12 month..

Padmanathan Kv (2127 Points)
Replied 11 May 2019

Yes Technical guide of ICAI states April 2017 to March 2018. I think that is a very conservative view. How can turnover of non-GST period be included for purpose of computing turnover?

Upgrade to CAclubindia Pro. Subscribe Now!

CA Shikha Sharma (Ceo) (3869 Points)
Replied 11 May 2019

many waiting for the circular to be issued

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 11 May 2019

Yes , according to GSTN also its turnover shall be inculded for whole year .
But as per my view shall be for 9 months only because the GST Act was implemented from 1/7/2017 , cannot be effective retrospective

1 Like

CA Shikha Sharma (Ceo) (3869 Points)
Replied 12 May 2019

whole financial year

1 Like

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 12 May 2019

As per Section 35(5) , every registered person whose Turnover For FINANCIAL YEAR exceeding prescibe limit (read with Rule 80)
The Relevant Section 35 & Rule 80 uses the Expression Financial Year & also no clarification from govt in this regard its better to compute Turnover from 1/4/2017 to avoid any kind of default

1 Like