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GST Audit

The GST audit is about verifying returns, records, and other related documents maintained by a person registered under GST. The need for GST Audit is to ensure the correctness of the information and check whether they agree with the GST Act, 2017 by an authorised person of the Tax authority.

Under the GST scheme launched by the Government of India in 2017. It is a taxation regime where the taxpayer can assess their tax liability, file an Income Tax Return (ITR), and pay the tax. Therefore, to check that the taxpayer has assessed it correctly, an audit under GST is required. Among the various ways to ensure GST practice, an audit is one of the ways to check its correctness.


Person Accountable for Audit Under GST


As per the GST Act, 2017, the registered taxpayers of India and the businesses whose turnover is above ₹ 2 crores in a financial year is accountable for GST Audit. The liable person must get their GST Audited by a cost accountant or a chartered accountant. The limit of GST turnover, i.e. ₹ 2 crores, is the same across all the borders of India.

The Aggregate Turnover Sectors For GST Audits are:-

  1. Inter-state Supplies

  2. Exports

  3. Exempt Supplies

  4. Transfer of Stocks


Document Requirements for the Taxpayers


There are a few documents that the taxpayer has to furnish in front of the auditee for the GST audit. These documents are as follows:-

  • PAN-based Financial Audited Statements.

  • GSTIN-based Form GSTR-9 led Annual Return.

  • Reconciliation Statement Certificate through Form GSTR 9C. The certificate should reconcile the supplies’ value and the tax and the declared sum in Form GSTR 9 compared to the financial audited in Part A and the audited reports in Part B.



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