If the annual turnover of a registered taxpayer is more than Rs. 2 crores in a financial year , he is required to get his accounts audited by a Chartered Accountant or Cost Accountant every year.
A financial year covers the 12-month period beginning from April of a calendar year to March of the next calendar year.
Special Note: For the purpose of finding out the turnover limit for Financial Year 2017-18, it includes the first quarter of 2017-2018 i.e. 1st April 2017 to 30th June 2017, before GST was implemented.