GST Audit

GST Audit

The law now also prescribes for multiple audits to be conducted by entities either by appealing to some authority or by appointing an external auditor. Under the GST Act, the following types of Audits have been mandated for businesses :
  • Section 65 – Audit by Commissioner
  • Section 66 – Special Audit
  • Audit conducted by an associated CA professional (Form 9C and Form 9D)

Section 65 – GST Audit by Commissioner/Department

The commissioner or on his order an officer at any time can conduct a comprehensive audit of records of business of the taxpayer for reconciliation of GST liabilities. Under this audit, the taxpayer is obliged to provide all necessary books of accounts and documents required for timely completion of the audit.

Section 66 – Special Audit

The officer so appointed by the commissioner, with his prior permission can at any time also conduct a special audit of the books of the taxpayer with specifying the reasons for the audit to the authorities. Seeking for the complexity of the case, the officer can further appoint a Chartered Accountant or CMA to conduct the audit.

Self Assessment and Audit

As stated under Section 35(5) of the GST Act, every registered entity on passing the exemption limit of turnover i.e below Rs 2 crore have to get its accounts audited by a practicising Chartered Accountant or CMA and submit a copy of such audit to the tax department while filling the GST returns as attachment.

Starting From ₹ 12,999 /-