Give us your phone number and email
we will send you the details.

By contacting this business you agree to follow all our terms and conditions mentioned here.

Verify OTP

Please check your email for the OTP, if not received please refresh the page and try again, also check your spam folders.

Upload Resume to create profile
Email: |
Create Job Alert

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: 1142



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: https://www.caclubindia.com

Related Queries