07 November 2019
Respected Sir, I confused about consideration of turnover in GST audit. Turnover should be consider from April to March or July to March ?? I have party whom turnover April to March Above 2 Crore But in period of July To March Below 2 Crore. Whether he is liable for GST Audit or Not ?? I have another one party whose engaging in retails sale of petroleum business is liable for Gst Audit ?? ( whose turnover in Gst Rs 16 lakh as well as in Vat 16 Crore whether he is liable for GST audit or Not ?? )
Please provide your valuable answer as soon as possible.
07 November 2019
As per sec 35 of CGST Act every registered person whose turnover during a FINANCIAL YEAR exceeds the prescribed limit shall get his accounts audited
Since there is no specific clarification has been provided by Govt . for GST turnover ( 2017-18) for audit purposes , it is advisable to consider Turnover for full FY ( 01 Apr 17 to 31 March 18
CAclubindia
