Is Audit compulsory if proft is below 8%?????

No, I have not applied for sec 44AD, i have filed ITR 5, in that filled no accounts case

if you not provided details of Financials then you need to get your account audited 

2017-18 ITR has been processed... Now what?

Mr. Adnan,

As per 44AD , you have to get the books audited if

1) profit claimed is less than 8% or 6%

2) GTO/GR less than ₹1Cr.

So your perception of filing return for no books is OK but you have to show the income as 8% atleast. However, if you show 8% also there won't be any tax as ₹30L * 8% gives to ₹2.4L. So don't worry. If possible revise return by showing 8/6% or else just leave it as can't do anything. But don't panic.

Also for processed return, as I have seen from your comment, ₹16L is a minor amount and possibility of scrutiny is low. If luck is not with you, you may get a notice. But that's ok. We can file a revised return if possible at that time. As it is AY 1718 check whether due date for revised return is extended so that you can file a revised. Or else leave it. 

No revised cannot be filed now.... And it is a partnership firm so no basic exemption limit ...