Turnover for GST Audit

Turnover from July 17 to March 18

Dear Sir,

GST Audit will apply every year for those GST registered business (GSTIN) having turnover more than Rs 2 crores, by the sale of goods or services in the financial year.

As per the Provision of Section 35(5) of the CGST Act 2017 read with Rule 80(3) of the CGST Rules 2017, Every Registered Person whose Aggregate Turnover exceeds Rs. 2 crore needs to get his Accounts Audited by a Chartered Accountant ( CA ) or a Cost and Management Accountant ( CMA ) within 31st December of the following year.

For FY 2017-18, the Aggregate Turnover will be taken from July 2017 to March 2018 as clarified by the department.

Warm Regards.