4.3 Audit Under GST
4.3 Audit Under GST
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Audit under GST
Audit is the process of examination of records, returns and
taxes paid, refund claimed and input tax credit availed, and to
being paid and the refund is claimed, certain taxable persons will
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Types of audit under GST
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I. Audit by taxable person
Threshold for Audit
Every registered taxable person whose turnover during a
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He shall electronically file:
an annual return using the Form GSTR 9B along with the
Financial Year,
the audited copy of the annual accounts,
a reconciliation statement, reconciling the value of supplies
Provisions
The Commissioner of CGST/SGST (or any officer
authorized by him) may conduct audit of a taxpayer for such
period and in such manner prescribed.
Period of Audit is conducted shall be a financial year.
The officers may conduct audit at the place of business of
the registered person or in their office.
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A notice will be sent to the auditee at least 15 days
before in form ADT-01.
The audit will be completed within 3 months from
date of commencement of the audit.
The Commissioner can extend the audit period for a
further six months with reasons recorded in writing.
Obligations of the Auditee/Taxable person
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Findings of Audit
revenue.
investigation that the value has not been correctly declared or the
wrong credit has been availed then special audit can be initiated.
2.Special audit can be conducted even if the tax payers books have