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In GST regime, taxpayer is required to self- assess his tax liability and file tax returns. To ensure that the taxpayer has correctly assessed his tax liability and maintained proper Books of Accounts, CGST 2017 says about the requirement of GST Audit.

There are 3 types of Audit under GST Regime:

1. Turnover Based GST Audit

Annual GST Audit is required if Turnover exceeds Rs 2 crore in previous year by CA/ CMA.

Word ‘Turnover’ shall include– Aggregate Value of All Taxable Supplies+ Exempt Supplies+ Value of Export supplies+ Inter-state supplies/ Supplies to branches under same PAN. However it excludes– Inward supplies on which RCM is applicable & Taxes paid like Central Tax, State Tax, Union Territory Tax, Integrated Tax and Cess.

Return to be filed – GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs 2  crores during the financial year.

Due Date of Filing of GST Annual Return: 31st Dec of Subsequent Financial Year. 

Documents required for GST audit

  • Audited Financials
  • Annual return in Form GSTR-9
  • All GST 1 & 3B Reconciliations
  • Reconciliation statement, reconciling the value of supplies declared in the return fur­nished for the year with the audited annual financial statement in Form GSTR-9C.

2. Normal GST Audit by CGST/SGST Commissioner

GST Audit can be carried out with prior Notice of 15 days in GST ADT-01. Audit Proceeding have to be closed within of 3 months from date of commencement of Audit, However if Audit could not be completed within a period of 3 months it can be extended upto a 6 months. On Conclusion of Audit, the proper officer shall inform the registered person about his Rights/ Obligations and reason for his Findings within 30Days. On Completion of Audit, in GST ADT-02 information will be provided to registered person within 30 days of conclusion of Audit. After that Officer may determine his tax liability and can initiate collection proceedings.

3. Special Audit by CA- directed by Government

Assistant Officer with prior approval of the Commissioner can direct a registered person in Form GST ADT-03 to get his Accounts audited and examined by CA/CMA. The CA/ CMA shall provide report of such Audit in GST ADT-04 within 90 days. The period of 90 days could be extended for further 90 days on application made by CA/ CMA to Commissioner. On Conclusion of Special Audit, the registered person will be informed about the findings in GST ADT-04. On the basis of Special Audit the process of demand and recover can be initiated.

Role of GST on Transport services


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July 2024