GST Audit: Turnover Limit For GSTR 9C for FY 2019-20

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As we all know, for GST Audit (Reconciliation Statement) the last date has been extended to 28th February 2021 for FY 2019-20. The major concern among the taxpayers is that what is the turnover limit for GSTR 9C for FY 2019-20. All doubts of the taxpayer regarding the applicability of the GST Audit for FY 2019-20 will be clear in this post.

What is the Turnover Limit for GSTR 9C for FY 2019-20?

Under GST, an eligible assessee is required to get his accounts audited for each financial year in GSTR 9C form.

Turnover Limit for GSTR 9C for FY 2019-20- The turnover limit for GST Audit (GSTR 9C) for FY 2019-20 is Rs. 5 Crore.

The below chart will clear all your doubts regarding the turnover limit for GST Audit (Reconciliation Statement).

Aggregate Turnover GST Audit (GSTR 9C)
Turnover less than Rs. 2 Crore NA
Turnover more than Rs. 2 Crore and less than Rs. 5 Crore Optional
Turnover of more than Rs. 5 Crore Mandatory
Turnover Limit for GSTR 9C for FY 2019-20

Note- Here turnover word will be read as Aggregate Turnover. For this, you can read- โ€œAggregate Turnover In GST- How to Calculate Threshold Limit for GSTR 9 and GSTR 9Cโ€œ

Non-applicability of GSTR 9C- GST Audit

The following persons are not required to get the audit of their accounts (GSTR 9C).

๐Ÿ‘‰ Casual Taxable Person.

๐Ÿ‘‰ Tax Deductor.

๐Ÿ‘‰ Tax Collector.

๐Ÿ‘‰ Input Service Distributors.

๐Ÿ‘‰ Non-Resident Taxable Person.

๐Ÿ‘‰ Person supplying OIDAR service from place outside India.

๐Ÿ‘‰ Foreign airlines are not required to submit form GSTR -9C.

Example

As per the above, The GST audit is applicable when total turnover on the PAN India basis exceeds Rs. 5 crores for FY 2019-20. However, GST Audit will be done GSTIN wise. For Example, Newtaxroute has units in Delhi having turnover Rs. 2 Crore, in Uttar Pradesh Rs. 2 Crore, and in Gujrat Rs. 2 Crore. The turnover is, therefore is Rs. 6 Crore. Therefore GST Audit is applicable to all its units.

Also Read- GSTR 9 Turnover Limit for Financial Year 2019-20

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

Hope you all find it useful, please give your valuable feedback & let us know if there is an error. Thanks in Advance

Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)


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