GST Audit Services

What is GST Audit?

A GST Audit is an examination of records, returns, and other documents maintained by a registered taxpayer to verify the correctness of turnover declared, taxes paid, refunds claimed, and input tax credit availed under the Goods and Services Tax (GST) law.
The objective is to ensure compliance with GST provisions and detect any discrepancies or non-compliance.

When is GST Audit Required?

As per Section 35(5) of the CGST Act, GST Audit is mandatory for:

• Registered taxpayers whose aggregate turnover exceeds ₹5 crore in a financial year.
• Businesses selected for departmental or special audits by tax authorities.

Types of GST Audits

1. Turnover-Based Audit
   Conducted by a Chartered Accountant or Cost Accountant when turnover exceeds the prescribed limit.
2. Departmental Audit
   Initiated by GST authorities to verify compliance.
3. Special Audit
   Ordered by the Commissioner if there is suspicion of tax evasion or incorrect credit claims.

Objectives of GST Audit

• Verify the accuracy of GST returns and financial statements.
• Ensure proper Input Tax Credit (ITC) utilization.
• Detect tax leakages, errors, or fraud.
• Confirm compliance with GST laws and rules.

Our GST Audit Process

1. Pre-Audit Review
   Analyze GST returns, financial statements, and reconciliations.
2. Verification of Records
   Check invoices, e-way bills, ITC claims, and tax payments.
3. Reconciliation
   Match GSTR-1, GSTR-3B, and GSTR-9 with books of accounts.
4. Reporting
   Prepare GST Audit Report (GSTR-9C) with observations and recommendations.

Benefits of GST Audit

• Ensures legal compliance and avoids penalties.
• Identifies errors and discrepancies early.
• Improves internal controls and tax planning.