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GST Audit


Audit under GST involves examination of records, returns and other documents maintained by a GST registered person. It also ensures correctness of turnover declared, taxes paid, refund claimed, input tax credit availed and assess other such compliances under GST Act to be checked by an authorized expert.
GST is a trust-based taxation regime wherein a taxpayer is required to self-assess his tax liability, pay taxes and file returns. Thus, to ensure whether the taxpayer has correctly self -assessed his tax liability a robust audit mechanism is a must. Various measures are taken by the government for proper implementation of GST and audit is one amongst them.

Requirement of GST Audit

  • . GST is the self-assessment tax regime so GST audit is required for
    ensuring that tax payer has correctly assessed hi liability.
  • . It involves examination and evaluation of records;
    GST returns and other related documents.
  • To obtain reasonable assurance and ensure that financial statements
    are free from any material misstatements

Furnishing of Documents under GST Audit

  • Annual Return
  • Copy of Audited Annual Accounts
  • Copy of reconciliation Statement

Types of GST Audit-

Under section 35 (5) of GST law, three types of GST audit is being specified-

Sr. No. Name of Audit Prescribed Authority Condition
1 Based on Turnover Chartered Accountant/Cost Accountant Turnover Exceeds Rs 2 Cr.
2 General Audit GST Commissioner or any other officer authorized by him On order passed by Commissioner, giving prior notice of 15 days.
3 Special Audit Chartered Accountant/Cost Accountant nominated by Commissioner On order passed by Deputy/Assistant Commissioner with
prior permission of Commissioner.

Forms to be filled under GST Return

GSTR 9  For Filling Annual Return
GSTR 9C    For Certified Reconciliation Statement

Audit in case of multiple Branches

While computing the limit of Rs. 2 Cr., turnover of all the branches of an organization is be considered and if the cumulative turnover exceeds the limit of Rs. 2 Cr then every branch will be liable for GST audit irrespective of the fact that their individual turnover does not exceed the specified limit.
– Organization can appoint either the single auditor for all branches or separate auditor for each branch.

Accounts to be reviewed under GST Audit-

  1. Purchase Register
  2. Sale Register
  3. Stock Register
  4. GST Expenses
  5. Statement congaing Input Tax Credit availed and utilized
  6. Output Tax Challan
  7. Statement of E-way Bill generated during the period
  8. . Any changes made under GST during the period