GST Audit Annual turnover 2 crores
What is GST Audit?
GST Audit will apply every annual year for that GST registered a business (GSTIN) having turnover more than Rs 2 crores
Forms of 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|
|Applicable for GST Audit|
|Taxpayers whose turnover exceeds Rs.2 Crores in Financial Year||GSTR-9C|
- A Regular Taxpayer-GSTR-9
- Applicable for GST Audit Taxpayers whose turnover exceeds Rs. 2 crores in Financial Year GSTR-9C
Submission: GST Audit Report and Annual Returns
The Completed GSTR-9C can be certified by the same Charted Accountant who managing the GST audit or it can also be certified by any other Chartered Accountant who didn’t conduct the GST Audit for that particular GSTIN.
The below must be reported and certified by the GST Auditor;
- Whether or not all the essential accounts or records are maintained.
- Whether or not the Financial Statements are prepared as per the books of accounts maintained at the principal place of business or additional place of business of the taxpayer.
- Certify the accuracy of the information in GSTR-9C.
- To list down the audit observations or reservations or comments
NOTE: DUE DATES FOR SUBMISSION OF GST AUDIT REPORT
GSTR-9 and GSTR-9C are due on or before 31st December of the subsequent budgetary year.
Special Note: For Financial Year 2017-18, the due date for filing GSTR 9 and GSTR-9C is extended to 31st August 2019, through an Official Notification.