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 Check List
- 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