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GST AUDIT ?

Sanket Jani (13 Points)

15 November 2019

Do I have to do a GST audit if there is a tax free sale in excess of 2 crores?

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4 Replies

vinay joshi (83 Points)
Replied 15 November 2019

I think yes. we have to do AUDIT

satheesh (ca practice) (49 Points)
Replied 15 November 2019

Yes because exempt supplies includes non taxable supplies

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 15 November 2019

If you are registered & your aggregate turnover (Exempted or Taxable or both) exceeds 2crore is required GST audit (As per Section 35 CGST Act & read with Defination of Aggregate turnover in Section 2(6) of CGST act )

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Shivam RC (Student) (23683 Points)
Replied 17 November 2019

Agree with Pankaj Sir...

Aggregate Turnover as defined u/s 2(6) of the CGST Act 2017, includes EXEMPT SUPPLY.

Therefore, if your Aggregate Turnover exceeds Rs. 2 crore, you have to file FORM GSTR-9C ( Reconciliation Statement and Audit Report ) as per the Provision of Section 44(2) of the CGST Act 2017 read with Rule 80(3) of the CGST Rules 2017 and get it certified by a Chartered Accountant or a Cost and Management Accountant by virtue of Provision of Section 35(5) of the CGST Act 2017.

NOTE : If you are dealing in "EXCLUSIVE SUPPLY OF EXEMPTED GOODS" , then your are not required to take GST REGISTRATION as per Section 23 of the CGST Act 2017.

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