| Originally posted by : Dhruv Jain | ||
 |
A co. Having turnover for FY 2018-19 of 4.5 cr as per audited financials and have 70 lacs as advance. Will the co. be applicable for GST Audit? |  |
Gst audit applies considering annual turnover. Does these advances becomes part of Ur aggregate turnover ?
Advanced rec'd for goods cannot b considered as part to aggregate turnover.
| Originally posted by : Dhruv Jain | ||
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What about advance for services? | |
No it won't be considered a part of agg turnover
| Originally posted by : Dhruv Jain | ||
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So considering the above said and the example given GST Audit won't be applicable? | |
Yes but annual return will b mandatory
Welcome dhruv but u must read the provisions.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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