Gst audit

GST Audit is applicable.

GST Audit will apply every year for those GST registered business (GSTIN) having turnover more than Rs 2 crores, by the sale of goods or services in the financial year.

Aggregate turnover = Value of all taxable (inter-state and intra-state) supplies + exempt supplies + export supplies of all goods and services

Items included while calculating turnover:

• All taxable (inter-state and intra-state) supplies other than supplies on which reverse charge is applicable
• Supplies between separate business verticals.
• Goods supplied to/received from job worker on principal to principal basis.
• Value of all export/zero-rated supplies.
• Supplies of agents/ job worker on behalf of the principal.
• All exempt supplies. E.g. Agricultural produce supplied along with branded ready-to-eat food.
• All taxes other than those covered under GST 

Items excluded while calculating turnover:

• Inward supplies on which tax is paid under reverse charge.
• All taxes and cess charged under Goods and Service Tax like CGST, SGST or IGST, Compensation Cess.
• Goods supplied to or received back from a Job Worker.
• Activities which are neither supply of goods nor service under schedule III of CGST Act.