Under CGST Act Section 35, 2017, every registered dealer with an aggregate turnover of more than Rs. 2 crore in one financial year, is eligible for getting accounts audited. Aggregate turnover includes values of all taxable and exempt supplies (except inward supplies), interstate supplies, and exports made under the same PAN throughout India.
Continue reading “Criteria for GST Audit”Author: Pinky Tyagi
GST Returns and Due Dates
What is GST Return?
A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
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Forms for Annual return and GST Audit:
| Type of taxpayer | Form to be filed |
| Whether or not applicable to GST Audit | |
| A Regular taxpayer filing GSTR 1 and GSTR 3B | GSTR-9 |
| A Taxpayer under Composition Scheme | GSTR-9A |
| E-commerce operator | GSTR-9B |
| Applicable for GST Audit | |
| Taxpayers whose turnover exceeds Rs. 2 crores in FY | GSTR-9C |
GSTR-9
1.What is GSTR-9 annual return?
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note:
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Meaning
The GSTR9C is an audit form that was introduced on September 13, 2018. It must be filed annually by taxpayers with a turnover above 2 crores, and it must be certified by a CA. It is basically a reconciliation statement between the annual returns filed in GSTR-9 and the taxpayer’s audited annual financial statements.
FAQ on GST Audit
Ques 1 Who is required to get his accounts audited for GST purposes?
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