Audit Under GST

As per section 35(5) of CGST Act, 2017, Every registered person whose turnover during a financial year exceeds the prescribed limit (As per latest GST rules, the turnover threshold is Rs.2 Crores) shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of audited annual accounts, reconciliation statement under section 44(2) and other documents in such form and manner as may be prescribed before 31st of December of subsequent year.

gst-audit

We at BCS conduct the audit of books of account under GST provisions covering the following aspects:

  • Review of classification of goods and services as per HSN system
  • Review of outward liability on monthly basis to match the GST returns filed
  • Review of eligible Input tax credit claimed during the audit period
  • Review of tax return filed during the year as per the due dates prescribed
  • Review of reconciliation report and annual return filed
  • Review of exemptions and concessions availed during the period We ensure to add value to our service rather than merely a certification activity.