GST Audit turnover limit

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 11 May 2019

As per discussion with GST officials., They told it's conducted from April to March...

pritesh

CA Final student

7106 Points Posted on 11 May 2019

any circular?

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 11 May 2019

No...

caamarrai7349@gmail.com

21 Points Posted on 11 May 2019

as per our institute ICAI cercular limit should be taken for 12 month..

Padmanathan Kv

2127 Points Posted on 11 May 2019

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?

CA Shikha Sharma

Ceo

3869 Points Posted on 11 May 2019

many waiting for the circular to be issued

Pankaj Rawat

GST Practitioner

55067 Points Posted on 11 May 2019

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

CA Shikha Sharma

Ceo

3869 Points Posted on 12 May 2019

whole financial year

Pankaj Rawat

GST Practitioner

55067 Points Posted on 12 May 2019

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