Gst annual return audit

GST annual audit limit is Rs. 2 crore

The Government on Thursday notified the GSTR-9C form for annual GST audit under which every taxpayer above Rs 2 crore turnover in a financial year would need to fill up a reconciliation statement and also obtain a certification of audit.

Under GST, annual return is to be furnished in GSTR-9 (recently notified on September 4, 2018). In addition, as per Section 35 of CGST Act, 2017, every tax payer whose turnover exceeds Rs 2 crore during a financial year, is required to submit audited annual accounts and a reconciliation statement in GSTR-9C.

The Government on Thursday through the notification No. 49/ 2018 - Central tax dated September 13, 2018 has notified the format for GSTR-9C.

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