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2 cr turnover limit means including tax(gross) or excluding tax(turnover)
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tax audit limit
Replies (5)
Turnover excludes duties and taxes. Refer Explanation under section 20(2) of GST Act, 2017.
Excluding Duties and GST...
Refer the definition of Aggregate Turnover as laid down u/s 2(6) of the CGST Act 2017.
Aggregate Turnover excludes CGST, SGST, UTGST, IGST and Cess.
Refer the definition of Aggregate Turnover as laid down u/s 2(6) of the CGST Act 2017.
Aggregate Turnover excludes CGST, SGST, UTGST, IGST and Cess.
As per Section 35(5) it is ‘turnover’.
Aggregate Turnover is mentioned in corresponding Rule 80(3).
The word ‘turnover’ is defined in Explanation to Section 20(2). Even though the Section 20 is with regard to ISD, as per the write up, the definition is applicable to all Registered Taxpayers.
Legally, the provisions of Section prevail over the rules.
However, both ‘aggregate turnover’ and ‘turnover’ excludes the duties and taxes.
No more reading is necessary to answer the query.
Sorry for the Difference...
Where is applicable Tax Audit limit Rs 2cr...?
Where is applicable Tax Audit limit Rs 2cr...?
I think the person is talking about GST AUDIT u/s 35(5) of the CGST Act 2017. That is why he is quoting the Rs. 2 crore Turnover limit.
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