GST AUDIT किसे कराना है और किसे नहीं ? WHO IS LIABLE FOR GST AUDIT ?

GST AUDIT

किसे कराना है

और किसे नहीं ?

WHO IS LIABLE FOR GST AUDIT 

SECTION 35 (5)

Every registered person whose turnover during financial year exceeds the prescribed limit shall get his account 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 and such other documents in such form and manner as may be prescribed.

SECTION 80(3) To know Prescribed Limit:

Every registered person whose aggregate turnover during a financial year exceed 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 9-C, electronically through the common portal

In case of more than one branch under same PAN GST Audit requirement:

Example:

ABC Ltd. Is having a head office and 3 Branches in different states registered under GST, having turnover as below:

Head office – Turnover Rs.2.1 Cores

Branch A - Turnover Rs.20 Lakhs

Branch B - Turnover Rs.30 Lakhs

Branch C - Turnover Rs.25 Lakhs

AGREEGATE TURNOVER

Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number (PAN), to be computed on all India basis but excludes central tax, state tax, union territory tax, integrated tax and cess.

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Team CA Guru Ji