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Aggregate turnover confusion

HARSHIL JAIN (MD) (334 Points)

19 June 2019

a very basic and easy query but still a confusion over it so please clarify

clients turnover is

taxable 1,90,75000/-
tax 9,53,750/-

total 20028750

as the taxable turnover is below 2CR but when adding tax the total exceeds the figure of 2CR

So now please clear that do i need to file GSTR9C as well with GSTR9 ANNUAL RETURN OR just GSTR9 ANNUAL RETURN ONLY..

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11 Replies

kiran Kumar (54 Points)
Replied 19 June 2019

go with taxable amount only
so no need to file GSTR9C

subhagan sreerangam (7039 Points)
Replied 19 June 2019

Taxable Value consider the Aggregate turnover in GST.Tax is not under turnover.

kiran Kumar (54 Points)
Replied 19 June 2019

go with taxable. so, no need to file GSTR9C

1 Like

CA Mayank A Jain (Chartered Accountant in Practice) (1014 Points)
Replied 19 June 2019

Aggregate turnover excludes taxes and hence you are not required to file GSTR9C

1 Like

Ajay Gupta (PRACTICING CHARTERED ACCOUNTANT) (196 Points)
Replied 20 June 2019

The amount of tax is never turnover. Hence for the purpose of checking eligibility for GST Audit (Form 9C), we need to just consider Rs. 1,90,75,000.

In nutshell, GST Audit (Form 9C) is not required in your case.

1 Like

GROUP WORK (5 Points)
Replied 20 June 2019

Respected all,

Whether the aggregate turnover limit of Rs. 40 lacs is considered for current financial year or should we consider our preceeding year turnover limit for gst registration limit.

Example: Suppose i have turnover of rs. 50 lacs in preceeding year but in the current financial year, my turnover is below the limit. Whether i am required to get mandatory registeration based on preceeding year turnover or should we consider current year turnover limit for registration.

kindly guide criteria to decide whether registration in gst is required or not based on preceeding or current year turnover.

Thanks

CA Mayank A Jain (Chartered Accountant in Practice) (1014 Points)
Replied 20 June 2019

In my view, it has to be considered for the current financial year.

Further, Section 29 of the CGST Act states that application for cancellation could be made if the person is no longer required to be registered in terms of 22 and 24 but other than a person who has taken voluntary registration.

And Section 22 mentions the works "in a financial year" and nowhere mentions previous/ preceding financial year.

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