{"id":16418,"date":"2023-08-29T11:59:15","date_gmt":"2023-08-29T11:59:15","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=16418"},"modified":"2024-04-26T10:16:28","modified_gmt":"2024-04-26T10:16:28","slug":"statutory-audit-for-sales-services","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-sales-services\/","title":{"rendered":"What is the due date of statutory audit for Sales &#038; Services?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"90\" height=\"43\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 90px) 100vw, 90px\" \/><\/p>\n<h2 style=\"text-align: center;\">Statutory Audit for Sales &amp; Services<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/statutory-audit-shown-on-photo-260nw-2139154281.jpg\" alt=\"Statutory Audit for Sales &amp; Services\" width=\"244\" height=\"138\" \/>Sure, the due date of statutory audit for Sales &amp; Services is 30th September of the subsequent financial year.<\/p>\n<p>For example, if the financial year of a Sales &amp; Services business is from 1st April 2023 to 31st March 2024, then the due date for the statutory audit is 30th September 2024.<\/p>\n<p>The statutory audit is a legal requirement for all businesses with a turnover of Rs. 1 crore or more.<\/p>\n<p>The audit is conducted by a qualified chartered accountant, who will review the business&#8217;s financial statements and records to ensure that they are accurate and compliant with the law.<\/p>\n<p>The auditor will also report on any areas of concern, such as possible financial irregularities or tax evasion. The statutory audit is an important tool for ensuring the transparency and accountability of businesses.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Here are some of the circumstances under which a Sales &amp; Services business may be required to get their accounts audited, even if their turnover is less than Rs. 1 crore:<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>1. <\/strong>If the business has borrowed money from a financial institution.<\/p>\n<p style=\"padding-left: 40px;\"><strong>2.<\/strong> If the business has been involved in a major transaction, such as a merger or acquisition.<\/p>\n<p style=\"padding-left: 40px;\"><strong>3. <\/strong>If the <span style=\"color: #000000;\">business<\/span> has been the subject of a tax audit in the past.<\/p>\n<p style=\"padding-left: 40px;\"><strong>4. <\/strong>If the business is a partnership or LLP.<\/p>\n<p><strong>To visit: <a href=\"https:\/\/www.mca.gov.in\/\">https:\/\/www.mca.gov.in\/<\/a><\/strong><\/p>\n<h2 style=\"text-align: center;\"><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13343 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-1-1-300x207.webp\" alt=\"\" width=\"554\" height=\"382\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-1-1-300x207.webp 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-1-1.webp 500w\" sizes=\"auto, (max-width: 554px) 100vw, 554px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>For further details access our website: <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Statutory Audit for Sales &amp; Services Sure, the due date of statutory audit for Sales &amp; Services is 30th September of the subsequent financial year. For example, if the financial year of a Sales &amp; Services business is from 1st April 2023 to 31st March 2024, then the due date for the statutory audit is\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-sales-services\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":15378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2459],"tags":[2879,3440,2880],"class_list":["post-16418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statutory-audit","tag-auditduedate","tag-salesservicesauditdue","tag-statutoryauditdeadline"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statutory Audit for Sales &amp; Services\/ VibrantFinserv<\/title>\n<meta name=\"description\" content=\"Sure, the due date of statutory audit for Sales &amp; 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