What is a GST audit?

Audit under GST is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST.

Who are eligible for GST audit?

GST Audit applies every year for those GST registered businesses (GSTIN) having turnover more than Rs. 2 crore, by the sale of goods or services in the financial year. It is dealt under Sections 35(5) and 44(2) of the CGST Act.

What are the steps for GST audit?

GST Audit Checklist

• Turnover based audit.
• General audit.
• Special audit.
• Cross verifying GSTR 3B with GSTR 1 & GSTR 2A.
• Checking the format of the invoice.
• Input Tax Credit (ITC) reversal for non-payment within 180 days.
• Reconciling e-Way Bills with invoices.

GST Audit applies every year for those GST registered businesses (GSTIN) having turnover more than Rs.2 crore, by the sale of goods or services in the financial year. It is dealt under Sections 35(5) and 44(2) of the CGST Act.