CA Rakesh Tayal asked 5 years ago
GST AUDIT Applicablity
GST AUDIT Applicablity
If one is providing Professional Services and having turnover of INR 30,00,000/- , apart from this he have also transacted in shares/Securities from which sale is amounting to Rs. 4 Crore, whether the assesse is liable for GST Audit Because of turnover Criteria (Limit 2 Cr.),
P.S. Assesse is a registered person
Answer the question1 Answers
CA Parth Shah answered 5 years ago
Shares & Securities are excluded from the definition of Goods as well services under GST. Hence transaction of Shares & Securities shall not be included in the total turnover under gst. Hence your actual turnover for GST shall be only Rs 30 Lakhs i.e. your professional fees. So GST Audit shall not be applicable to you.
