Types of GST Audit

1. GST  Audit

Audit basically refers to examination of related records to verify compliance with related law. In same order a GST Audit is performed toverify the correctness of tax declaration and payment and refunds claimed and input tax credits availed by an assessed as per provisions under GST. The GST Audit have been defined under section 2(13) of Central Goods and Services Tax Act, 2017.

2. Types of Audit under GST

• • GST Audit performed by a Chartered Accountant
  • GST Audit performed by tax authorities
  • Special GST Audit

Taxmann’s GST Audit and Annual Return – F.Y. 2019-20 caters to handle the preparation and filing of GSTR 9, GSTR 9A/4, and GSTR 9C for FY 2019-20 which is currently supposed to be filed till 28th February 2021. This book serves as a ready referencer for all the professionals like CA and their Articles, CS, CWA, Advocates, etc. in handling audit and annual return assignments.

3. GST Audit performed by Chartered Accountant

• • • The production or manufacture of goods
    • Inward supply of goods or services or both
    • Outward supply of good or services or both 
    • Stock of goods
    • Input tax credit availed
    • Output tax that is payable or already paid
    • Books of accounts point

4. GST Audit by Tax Authorities

• • The auditee must facilitate the related books of accounts and other documents which must be maintained as per provisions under GST Audit Rules.
  • The auditee also must give information and all the necessary assistance to complete the timely audit.

• • Documents on basis of which the accounts were maintained, the returns were filed under GST Audit Rules
  • Correctness of the turnover
  • Exemptions of deductions of claims
  • Rate of tax applied in respect to supply of goods and service
  • Input tax credits availed and utilized
  • Refunds claimed
  • Any other related issue.

Dive Deeper:
All about GST Audit you should know
GST Audit Checklist, Rules & Applicability
Can GST Practitioners conduct GST Audit?

5. Special Audits

A chartered accountant does this kind of GST audit as per directions received from the GST Officer of not below the rank of Assistant Commissioner, if he declares that the values have not been declared correctly and/or credits availed in not within the normal limits. The CA or CMA for such a GST audit is nominated by the commissioner. The officer shall issue such direction in Form GST ADT-03 to the registered dealer to get his records including his books of accounts to be examined and audited by a professional CA or CMA within a period of ninety days from the day of passing such an order. This period could further be extended by additional ninety days.  The commissioner pays the expense of such a GST audit and examination. On conclusion of this special GST audit the findings have communicated the auditee in Form GST ADT-04.