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Regarding gst audit limit for f.y 2019-20

urvish (practise) (5 Points)

14 June 2020

turnover limit for gst audit increased to 5 crore from 2 crore.. whether increased limit of 5 cr. is only for f.y 2018-19 or it is applicable to 5 cr. also..?

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6 Replies

Hemal Makwana (Designation) (771 Points)
Replied 14 June 2020

So far it's applicable for FY 2018-19

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Shivam RC (Student) (23683 Points)
Replied 14 June 2020

Yes so far it is applicable for FY 2018-19.

Proviso to Rule 80(3) of the CGST Rules 2017, clearly states that "FOR FY 2018-19" FORM GSTR-9C will be mandatory only for those taxpayers whose Aggregate Turnover exceeds Rs. 5 crores.

Note : This Proviso was inserted to Rule 80(3) of the CGST Rules 2017 vide Notification No. 16/2020 - Central Tax, dated 23rd March 2020.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 14 June 2020

As per t Notification 16/2020 CT , the Provsio inserted in Rule 80 it's 5 crore only for Fy 2018-19 as of today.

shahyar husain (1240 Points)
Replied 14 December 2020

Don't exactly understand what you are trying to ask but the 5 crore limit will also be applicable for assessment year 2020-21. I hope this helps.

M Venkat (CA finalist) (456 Points)
Replied 08 January 2021

The said rule 80(3) has been amended vide Not .no 79/2020 - central tax dated 15th Oct, 2020.

The limit of 5 crores shall be applicable to the F.Y 2019-20

the proviso is read as below

“Provided that for the financial year 2018-2019 and 2019-2020, every registered person whose aggregate turnover exceeds five crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C for the said financial year, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner.”.