While calculating gst audit limit turnover of whole fy need to be CONSIDER or for 9 months only?
10 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 11 May 2019
As per discussion with GST officials., They told it's conducted from April to March...
caamarrai7349@gmail.com
(21 Points)
Replied 11 May 2019
as per our institute ICAI cercular limit should be taken for 12 month..
Padmanathan Kv
(2127 Points)
Replied 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?
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 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
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
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 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
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
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 12 May 2019
Yes... Already we put previous month's turn over in GSTR 1 return in July-17 on GST portal...
Recent Topics
- Is TCS applicable on sale of used car by a Compnay
- Hsn wise data in GSTR 1
- Accounting treatment of Conversion of a part of Ag
- AO's Query on Bad Debt Claim – Need Guidance
- Capital account entry in tally
- TDS Applicability on Commercial Photography & C
- CSR via Trusts and Form 10BE - Legality of 80G Cla
- NRO Conversion vs Closing Account and Gifting to M
- Exchange gain loss
- Donation to Prime Minister Relief Fund
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
