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tax audit

RAHUL JAIN (63 Points)

11 May 2018

kya tax audit krvana jaruri h

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193823 Points)
Replied 11 May 2018

Ji ha, jaise ki, agar apka trading turnover 1 cr se jyada ho aur profit 8% se kam ho....... aur bhi aisi kuch conditions hai

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RAHUL JAIN (63 Points)
Replied 11 May 2018

sir mera matlb gst audit se tha

prasad Nilugal ( GST Practitioner & Accounts ) (14870 Points)
Replied 11 May 2018

1)Under section 44AB of the income tax act 1961 , if your turnover from Busniess in previous year exceeds more than 1 Crore , Tax-Audit is requried (Income tax )

2)In GST if turn over of registered person exceeds 2 crore Audit is requried .(GST)

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193823 Points)
Replied 11 May 2018

Originally posted by : RAHUL JAIN
	sir mera matlb gst audit se tha

Yaha turnover limit 2 CR ki hai.......

RAHUL JAIN (63 Points)
Replied 11 May 2018

sir lekin iska notification ni aaya na shayad

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193823 Points)
Replied 11 May 2018

As per Section 35(5) of CGST Act 2017, Every registered person whose turnover during a financial year exceeds the prescribed limit [Rs 2 Crore by Rule 80(3) of CGST Rules 2017] shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of the audited annual accounts, the reconciliation statement under sub-section (2) of section 44 of CGST Act 2017 and such other documents in such form and manner as may be prescribed.

As per Section 44(2) of the CGST Act 2017, Every registered person who is required to get his accounts audited in accordance with the provisions of sub-section (5) of section 35 shall furnish, electronically, the annual return under section 44(1) of CGST Act 2017 along with a copy of the audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed.

AS per Rule 80(3) of CGST Rules 2017, Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.