While calculating gst audit limit turnover of whole fy need to be CONSIDER or for 9 months only?
GST Audit turnover limit
Replies (10)
As per discussion with GST officials., They told it's conducted from April to March...
any circular?
No...
as per our institute ICAI cercular limit should be taken for 12 month..
Yes Technical guide of ICAI states April 2017 to March 2018. I think that is a very conservative view. How can turnover of non-GST period be included for purpose of computing turnover?
many waiting for the circular to be issued
Yes , according to GSTN also its turnover shall be inculded for whole year .
But as per my view shall be for 9 months only because the GST Act was implemented from 1/7/2017 , cannot be effective retrospective
But as per my view shall be for 9 months only because the GST Act was implemented from 1/7/2017 , cannot be effective retrospective
whole financial year
As per Section 35(5) , every registered person whose Turnover For FINANCIAL YEAR exceeding prescibe limit (read with Rule 80)
The Relevant Section 35 & Rule 80 uses the Expression Financial Year & also no clarification from govt in this regard its better to compute Turnover from 1/4/2017 to avoid any kind of default
The Relevant Section 35 & Rule 80 uses the Expression Financial Year & also no clarification from govt in this regard its better to compute Turnover from 1/4/2017 to avoid any kind of default
Yes... Already we put previous month's turn over in GSTR 1 return in July-17 on GST portal...
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
