1. what is limit for GST AUDIT
2. the limit is including of GST amount or excluding please specified with example
3. who are eligible for GST AUDIT (example GST PRACTICTIONER ARE eligible or not)
Reply
As per Section 35(5) of CGST Act, 2017, Every registered person whose turnover during a financial year exceeds 2 crore rupees (excluding GST) shall get his accounts 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.
Therefore, GST audit limit is Rs. 2 crore rupees excluding GST and audit will be done by Chartered Accountant or Cost Accountant.
|