GST Audit

Meaning of Audit is defined under section 2(13) of CGST Act 2017. Government introduced from GSTR9C for conducting GST Audit. For GST Registered persons whose turnover during the year exceed two crore for them GST Audit Applicable. As per explanation of Section 35(5) of CGST Act 2017 GST Audit applicable. GST Act defined GST Audit as examination of GST Returns ,records and other documents. GST audit purpose is to do Verification of GST paid, return filed , turnover disclosed and refund claimed.

Aggregate Turnover = All taxable supplies + exempt supplies + export of goods or services + inter or Intra state supplies of person under one PAN. ( Excludes central tax, State tax, Union territory tax, integrated tax and cess. ( Exempt supply includes nil rated supplies , specific supplies by notification non taxable etc. ) exempt supply under GST is a broad term which includes nil rate supplies, non-taxable supplies and specific supplies which are notified as exempt from tax.

GST Audit Turnover Limit

As per GST Act Every registered person who turnover for period 1.07.2017 to 31.03.2018 exceed two crore required to get GST audit compliance. Per need to obtain GST audit certification from the Chartered Accountant or Cost Accountant. Aggregate turnover for GST Audit is already defined in above para. Its important to note that aggregate turnover includes supplies of nil rated , exempt supplies , export of goods or services , supplies to SEZ units. But this turnover excludes Central, State , Union taxes. GST was in force from 01.07.2017 , suitable explanation in required from government for which period should be take for calculation turnover for financial year 20171-18.

GST Audit Check List

Following shall be documents , ledger Check list for GST Audit

  • Ledger of GST Outward Supply
  • Ledger of GST inward supply
  • RCM Ledger
  • GST Return filed GSTR3B, GSTR 1,GSTR2
  • GST Input tax credit ledger
  • Working of Trans credit & Trans returns
  • Financial statement of Company
  • Leger for reimbursement from employees etc.
  • Capital goods addition details
  • GST refund applied & received
  • Statement of GST payment via challan

GST Audit Process

Where turnover for financial year cross Rs. 2 crore such registered person need to get involved in GST Audit Process. First company need to identify turnover and audit applicability. GST audit certification need to be done by practicing Chartered Accountant or Cost Accountant. GST Audit Process may involve verification of GST returns filed , GST cash and electronic ledger, input tax validity , GST Refund applied , received, reconciliation of different GST ledgers. Validate correctness of GST liability declared , CGST/SGST/IGST cross utilization etc. From company to company different GST Audit process can be followed to validate required information.

Types of GST Audits

What We Offer

Personal Consulting on GST

SOP For GST Audit

GST Audit Submission

CA Certificate

What We Offer

Personal Consulting on GST

SOP For GST Audit

GST Audit Submission

CA Certificate

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FAQ

Does GST audit need to conduct by Chartered Accountant/Cost Accountant?
Yes. As per GST law, GST audit need to conducted by Chartered Accountant/Cost Accountant Where turnover exceeds Rs.200 lac.
Does stock transfers included under aggregate turnover ?
Yes. Section 2(6) of CGST/ SGST Act defines aggregate turnover to include ‘inter-state supplies of person having same PAN.
ABC Ltd supplies only exempted goods and there turnover is 3.5 Cr , does GST audit applicable ?
Yes. aggregate turnover’ includes even exempted supplies.
Can GST Audit be revised ?
No. GST Law have no provision for revising GST audit form GSTR 9C.
What contents in GST audit Form GSTR 9C?
Form GSTR 9C consists of 2 parts. Part-A - Reconciliation statement Part B is Certificate by CA/ CMA.
ABC Ltd sold Machine ( Capital Goods ) , does this need to be reflected in GSTR 9C?
Yes, GST is applicable on supply. Also company need to mention ITC Reversal as per section 18(6) of CGST Act.
For disallowance of Input Tax credit by auditor arises, should the same be paid by cash or ITC ?
GSTR 9C provides for auditors recommendation on additional liability wherein liability arising on account of non-reconciliation of ITC has to be remitted in cash. Whether cash will include payment through ITC as well is yet to be clarified by the Government.

Compare Your Options

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section

Tax Audit

Turnover > Rs. 200 / 50 lac
30 Sept 2019
Yes
Online
CA
44 AB

GST Audit

Turnover > Rs. 200 Lac
31 Dec 2019
Yes
Online
CA/CMA
35(5)

Statutory Audit

For Companies
30 Sept 2019
Yes
Online
CA
Section 133

Trust Audit

For Trust
31 July 2019
Yes
Online & Offline
CA
Section11 & 12

Society Audit

For Society
31 July 2019
Yes
Online & Offline
CA & Other
Section 81

Compare Your Options

Tax Audit

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section
Turnover > Rs. 200 / 50 lac
30 Sept 2019
Yes
Online
CA
44 AB

GST Audit

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section
Turnover > Rs. 200 Lac
31 Dec 2019
Yes
Online
CA/CMA
35(5)

Statutory Audit

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section
For Companies
30 Sept 2019
Yes
Online
CA
Section 133

Trust Audit

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section
For Trust
31 July 2019
Yes
Online & Offline
CA
Section11 & 12

Society Audit

Mandatory For
Due Date
Statutory Compliances
Mode of Audit submission
Who can do Audit
Audit Section
For Society
31 July 2019
Yes
Online & Offline
CA & Other
Section 81

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