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Query: Turnover Criteria for Audit under income tax & GST

Category: Audit

Answer: As per Section 44AB of Income Tax Act, if Turnover is more than 1 Crore, then Audit is required. As per GST Act, Audit is required if total turnover cross 2 for the accounting year. My Query is, due to inter-branch Sales between two Branch offices located at different States, Invoice was raised and sales was recorded as Inter-Branch Transfer Outward. Due to these Inter-branch transfer, total Turnover Cross 1 Crore. In such a situation, whether Audit is required as per Income Tax Act?

Date Posted 04-Aug-2019
Posted By Admin
Views: 1141

kumar shubham On 04-Aug-2019
Under Income Tax your Sale Considered on The basis of PAN for all business And for GST purpose GST Number Basis Read more at:

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