Gst audit turnover
This query is : Resolved
CA Rapunzel
(Querist)
08 August 2019
FOR GST AUDIT PURPOSE THE TURNOVER LIMIT OF 2 CR IS TO BE CONSIDERED THAT BETWEEN JULY TO MARCH OR FROM APRIL TO MARCH?
REGARDS
RUCHITA
REGARDS
RUCHITA
08 August 2019
Section 35(5) of the CGST Act that refers to GST audit uses the expression financial year.Hence the turnover of the entire year 2017-18 should be taken for calculating
the prescribed turnover limit.
the prescribed turnover limit.
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CA Rapunzel
(Querist)
08 August 2019
Thank you very much sir for your prompt reply.
But what about the clarification issued by CBEC on 3rd july 2019 ?
It says for the audit purpose of F.Y. 2017-18 turnover limit of 2Cr. is to be considered between July'17 to March '18.
But what about the clarification issued by CBEC on 3rd july 2019 ?
It says for the audit purpose of F.Y. 2017-18 turnover limit of 2Cr. is to be considered between July'17 to March '18.
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08 August 2019
Thanks for the update. I missed out the last sentence of clause (i) of the said press
release.
release.
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