GST Audit Applicability for the F.Y. 2017-18
How to take period for turnover of GST Audit limit of Rs. 2 Crore
From
April 2017 to March 2018
Or
July 2017 to March 2018
?????
Menu
GST Audit Applicablity or Period
Replies (5)
April 17 to March 18
Ok Thank you Sir
As per Sec 35 of CGST Act,2017, every tax payer whose aggregate turnover exceeds Rs.2 crore during a financial year, is required to submit an audited annual accounts and reconcilliation statement in GSTR-9C.
Aggregate Turnover is PAN india basis but audit shall be conducted for every GSTIN taken.
Normally GST Audit is to be conducted for whole of the financial year i.e from april to march, but as GST has been iimplemented from july 2017, AUDIT for this F.Y.2017-18 shall be from July 2017 to March 2018.
Thank You Madam,
But Any Circular or Notification No of Govt Or any Mention in Section.....?????
But Any Circular or Notification No of Govt Or any Mention in Section.....?????
Check this press release ,as per point no. i) , turnover should be reckoned from july 2017 to March 2018 ( And not April 2017 to march 2018)
https://www.cbic.gov.in/htdocs-cbec/press-release/press_release_Clearification.pdf
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
