During F.Y. 2017-18 turnover during gst period i.e. 1/7 to 31/18 is under 2 cr but total turnover i.e. 1/4/17 to 31/3/18 is above 2 cr whether firm is liable to gst audit for f.y. 17-18?
During F.Y. 2017-18 turnover during gst period i.e. 1/7 to 31/18 is under 2 cr but total turnover i.e. 1/4/17 to 31/3/18 is above 2 cr whether firm is liable to gst audit for f.y. 17-18?
CBIC Press release dt.03.07.19 regarding GSTR 9C reads "The aggregate turnover for this purpose shall be reckoned for the period July, 2017 to March, 2018."
Follow the link
https://www.cbic.gov.in/resources//htdocs-cbec/press-release/03-07-2019-Second-Press-Release.pdf;jsessionid=F0C793C63218C0C404C7AC909D2FA47F
Locate Point i
Read Point i in that press release
According to the said press release, If your turnover from 01.07.17 to 31.03.18 exceeds Rs. 2 crore, you are liable to file GSTR 9C otherwise not.
Sir,
We have more GSTIN do we will have to file annual audit because some states turnover not exceed from 2 cr
you are liable.
As mentioned above according to press release, the “aggregate turnover” will be calculated from July 2017 to March 2018 for the FY 2017-18.
But it is essential that instead of just taking turnover in the Financial Statement one should deeply analyse the definition and arrive at the figure:
“aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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