GST Audit Overview

GST audit is the examining and verifying of records, returns and other documents of the registered dealer. GST audit is done to verify the information displayed by the dealer in terms of declared turnover, taxes paid, refund claimed, and input tax credit availed in accordance with the GST provisions and compliances.


What Is Included In Our Package?

Eligibility Consultation

Document Preparation

Application Drafting

Government Fees


There are 2 types of audit under GST –
  1. Audit by taxable person
  2. Audit by GST tax authorities

GST Audit by Taxable Person

Every registered tax payer whose turnover exceeds prescribed limit of Rs.2 crores in a financial year has to mandatorily audit their accounts by a chartered accountant or a cost accountant. The documents filed by the tax payer includes the following -

  1. Filing of annual returns using form GSTR-9 by 31st December of the next financial year.
  2. Filing of certified reconciliation statement using form GSTR-9C (Reconciliation of the value of supplies declared in the return with the audited annual financial statements)
  3. Audited copy of the annual accounts.

GST Return Rectifications After Audit

After GST audit, if any taxable person found any error or incorrect detail in the GST return, he can rectify it by paying the interest.

No rectification is allowed in case of GST return after the due date for filing of return for the month of September or second quarter following the end of the financial year or actual date of filing the return (whichever is earlier). For example – Suppose Mr. A discovers during the audit that he has done a mistake in November 2017 return. Mr. A submitted annual returns for financial year 2017-18 on 31st August 2018 along with the audited accounts. He can rectify the mistake of 2017 within –

  1. 20th November 2018 ( Last date of filing October return)
  2. Or
  3. 31st August 2018 (the actual date of filing annual return)
  4. (Whichever is earlier)
    Note - In this case, last date for rectifying the GST return is 31st August 2018

Audit By Tax Authorities

There are two types of audit under audit by tax authorities and are as follows –

  • General audit –
    • In case of general audit, audit of a tax payer may be conducted by a commissioner of CGST/SGST or any other authorized officer.
    • A notice will be sent to the tax payer or auditee at least 15 days before the commencement of audit.
    • The audit should be completed within 3 months from the date of commencement of the audit.
    • The commissioner has the right to extend the period of 3 months to further 6 months by giving reason for the same in writing.
  • Special Audit – Special audit can be initiated when during any stage of enquiry or investigation, it was found that the wrong value has been declared or wrong credit has been availed by the taxpayer. Special audit is initiated by the assistant commissioner in writing depending upon the nature & complexity of the case & revenue interest. It is carried out by a chartered accountant or a cost accountant nominated by the commissioner. The time limit for special audit is 90 days which can extend further for 90 days by the tax officer in case the application is made by the taxable person or by the auditor. An auditor should submit the special audit report within 90 days.

GST Return Rectification Request after Audit

You are not allowed to rectify the mistake if results are from audit by the tax authorities.

Benefits of GST Audit Services

  1. More than 10 years of experience
  2. Qualified professionals
  3. Excellent customer service
  4. Cost efficient
  5. Customer delight
  6. Time saving
  7. Quick turnaround time
  8. Continuous support over e-mail and phone (24X7).

How Finacbooks Can Help?

Finacbooks is one of the leading Indian firms with more than 10 years of experience in helping businesses with GST audit. To avail the best deals on GST audit, kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com

GST audit FAQ’S

GST audit is the examining and verifying the records, returns and other documents of the registered dealer.
The two types of audit under GST are –
  1. Audit by taxable person
  2. Audit by GST tax authorities
No rectification is allowed in case of GST returns after the due date for filing of return for the month of September or second quarter following the end of the financial year or actual date of filing the return (whichever is earlier). He can rectify it by paying the interest.
The commissioner of CGST/SGST or any other authorized officer may conduct general audit of a tax payer. The auditor needs to complete the audit within 3 months from the date of commencement of the audit. The commissioner has the right to extend it further by 6 months by giving reason in writing.
An auditor should submit the special audit report within 90 days.
CONTACT US

We Are Everywhere

We are having a wide network operating all across India as well as Internationally.

Contact Us


30+ Offices in
India

10+ Years Experience

Save Your
Time

Quick Turn around Time

Qualified Professionals

Excellent Customer Service