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GST AUDIT conduct cost Accountant

Soni Ketan (23 Points)

17 September 2020

My business Turnover 5 crore. so can I have conduct to GST AUDIT to cost Accountant?

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CA Sunil Kumar (Chartered Accountant) (4514 Points)
Replied 17 September 2020

Yes Cost accountants are eligible to conduct GST audit u/s 35.

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 17 September 2020

Yes, Chartered Accountants and Cost Accountant both are eligible to conduct GST audit.
if Your turnover is more than 5 Cr in F.Y 2018-19 than GST audit is Compulsory for that year...

Shivam RC (Student) (23683 Points)
Replied 17 September 2020

As per the Provision of Section 35(5) of the CGST Act 2017 read with Rule 80(3) of the CGST Rules 2017, GST Audit can be conducted either by a practicing CHARTERED ACCOUNTANT ( CA ) or COST and MANAGEMENT ACCOUNTANT ( CMA ).

And for FY 2018-19, GST Audit was made Mandatory only for those taxpayers whose Aggregate Turnover "Exceeds Rs. 5 crores" vide Notification No. 16/2020 - Central Tax, dated 23rd March 2020. [ A new Proviso was inserted to Rule 80(3) of the CGST Rules 2017 ].

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