GST TURN OVER F Y 17-18 is 1.45 Cr And VAT TO IS 1.21 Cr
Applicable GSTR9 and 9C
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Quick Summary
This discussion clarifies the applicability of GSTR 9 and 9C for the financial year 2017-18. While the general rule considers the full financial year's turnover for GST audit applicability, a specific government clarification states that for FY 2017-18, the turnover period is from July 2017 to March 2018. Given this, if your turnover for this period falls below the prescribed limit (implied to be ₹2 Cr), GSTR 9C is not applicable, though filing GSTR 9 is still advisable.
Wording used in the section 35(5) "Every registered person whose turnover during a financial year exceeds the prescribed limit". Thus tournover of whole FY is taken in to account for applicability of GST Audit. However For the purpose of finding out the turnover limit for Financial Year 2017-18, it has been clarified in the government’s press release dated 3 July 2019. It shall cover the period 1 July 2017 to 31 March 2018 and excludes the first quarter of FY 2017-18.