GST Audit

GST audit is a report/certificate required by the Central and State GST laws from a Chartered Accountant/Cost accountant. It is a process where books of accounts, relevant records, GST returns/filings and other documents made available by the client is examined for various compliances with GST laws and a report/certificate is issued by the GST auditor along with the annual returns furnished by the client in the prescribed forms. Any entity having an annual turnover in excess of INR 2 crores needs to get GST audit performed annually.

Estimated Time

15 - 30 days

Price Range

INR 3,500-10,000/man day

Scope of Work

1. Understanding the existing business operations and organizational structure 2. Identifying industry-specific issues affecting the business 3. Review of reports generated including assessing the completeness of information in such reports 4. Assessment of audit risks by analyzing the financial statements and the underlying books of accounts maintained 5. Plan and execute audit procedures which include analytical procedures and sample test checks 6. Documentation of audit work and preparing the required draft and final audit reports 7. Certifying Form GSTR-9C along with audited annual financial statement and reconciliation statement

Documents Required

1. GST registration certificate 2. GSTR 1 & GSTR 3B for all the months along with workings/computation 3. GST payment challans 4. Cash and credit ledger as on date 5. Purchase & sales registers 6. Reconciliation between GSTR 1 and GSTR 3B, if any 7. Reconciliation of turnover declared in the Audited Annual Financial Statements with turnover declared in Annual Return (GSTR9) 8. ITC credit bills 9. GST Tran1 10. Matching of ITC books with GSTR3B 11. Matching of ITC GSTR2A with GSTR3B 12. RCM applicability 13. Audited financial statements 14. Annual return - Form GSTR9/9A/9B