FAQ – 10

For determining the eligibility for the GST Audit, do I need to consider the turnover as per the financial statements or I need to compute it separately?

It has to be considered separately as the turnover given in the Financial statements is based on the accounting standards and for GST it is based on Aggregate Turnover and Supply also includes some transactions even if consideration is not received as detailed in Schedule 1 of CGST Act.

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