GST Audit in Jaipur

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GST Audit
GSl Audit undeí sec 13(2) of CGSl Act, 2017 is
the píocess of examination of íecoíds, íetuíns,
and otheí documents maintained by a taxable
peíson and also veíifying the completion of
compliances within the time fíame allowed. lhe
puípose is to veíify the coííectness of tuínoveí
declaíed, taxes paid, íefund claimed and input
tax cíedit availed, and to assess the compliance
with the píovisions of GSl. lhis is a
íeconciliation between the GSl íetuíns filed by a
business and the books of accounts maintained by
them. lhis Audit is mandatoíy foí all the
taxpayeís having a tuínoveí of moíe them 2
cíoíes in an FY. lhis Audit is done by a
Píacticing CA oí a Cost Accountant. Legal
Window píovides the best seívices foí GSl Audit
in Jaipuí.
Advantages Of GSl Audit Recoíding of the coííect
time of supply lhe voluntaíy audit allows
íecoíding of the coííect time of supply. lhis
íeduced the instances of píe-paid and post-paid
taxes. As you pay taxes on time, you can avoid
the inteíest cost (both on píe-payment and
post- payment) and penalty (on post-payment). Ve
íification of coííectness of GSl íetuín GSl audit
helps to veíify the tíueness and coííectness of
GSl filling and lax paid.
Matching of GSl íetuíns with Books of Accounts In
píepaíing the Reconciliation Statement the Books
of accounts should be matched with GSl íetuíns.
Depth Checking of Unclaimed Input lax Cíedit Many
times we dont claim the GSl input available fíom
sundíy expenses like bank chaíges and small petty
exp done, GSl Audit helps them to check and claim
in the next íetuín. Reveísal of IlS Any IlC we
have claimed duíing the yeaí which is not given
by the dealeí can be íeveísed in the next íetuín.
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Documents Requiíed
GSlIN Useí ID passwoíd Sale Puíchase bill Data of
Eaílieí Retuíns Filed Registeís Maintained E-way
Bill Entíies
Píoceduíe You aíe íequested to fiíst fill out the
simple questionnaiíe píovided by ouí expeít team
which will enable us to know the status of books
of accounts of GSl. In the second step, you will
be íequiíed to píoduce the documents by the
questionnaiíe filled based upon which case will
be dealt with so that we can aííange them as peí
the íequiíement and foí fuítheí
píocessing. Afteí aííanging the documents we
will begin with the píepaíation of financial
statements and analyze the accuíacy of the
documents Afteí veíification of all the data
píovided, the píacticing píofessional will
píovide the obseívations and comments, if any,
and submit the GSl Audit Repoít with íeconciled
statements. Afteí submitting all the documents,
the acknowledgment will be píovided to the client
via mail.
Additional Infoímation Legal Window caííies out
the audit píocess in a veíy smooth and
tíanspaíent manneí with a team of expeít
píofessionals. While we conduct the audit theíe
aíe a few things to be kept in mind
Calculation of Aggíegate luínoveí undeí GSl Foí
computing the aggíegate tuínoveí, the following
sales shall be included-
1. Value of all inteí-state taxable supply
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• Value of all intía- sate taxable supply
• Value of all exempt supplies
• Value of all expoít supplies
• Job woík supplies on píincipal to píincipal basis
• Zeío-íated supplies
• Any supply to agent/ job woík on behalf of the
  píincipal 8.
• Foí computing the aggíegate tuínoveí, the
  following sales shall be excluded-

1. laxable supply on which íeveíse chaíge is
   applicable
2. All taxes and cess paid undeí GSl
3. Goods supplied and íeceived back fíom job woík

• Books to be examined undeí GSl Audit-
• Puíchase Registeí
• Sales Registeí
• Stock Registeí
• GSl Retuíns
• Statement of IlC oí Electíonic Cíedit Ledgeí
• Electíonic cash Ledgeí
• E way bill Statements
• Amendments made duíing the peíiod.

Paít-A- Reconciliation Statement- lhis is
fuítheí divided into 5 paíts

1. Basic Details
2. Reconciliation between luínoveí declaíed undeí
   the 2 Acts

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1. Reconciliation of laxes paid
2. Reconciliation of IlC availed
3. Auditoí comments on Reconciliation and Additional
   Liability if aíises. Paít-B- Ceítification By
   Chaíteíed Accountant/Cost Accountant

Due dates lhe due date foí filing the annual
íetuín and GSl audit is the 31st of Decembeí of
the subsequent financial yeaí
Dates aíe subject to change accoíding to the
official notification fíom the centíal Goveínment
Penalty lhe penalty foí not getting GSl accounts
audited as peí act is Rs 200 peí day ( Rs 100 foí
CGSl and 100 foí SGSl). lhe maximum penalty will
be 0.25 of the total tuínoveí declaíed.
Auditoí Qualification foí GSl Audit As peí
Section 35 of GSl Audit, the audit can be
peífoímed by a Chaíteíed Accountant oí a Cost
Accountant. But theíe aíe exceptions in the
píovisions-

1. An Inteínal Auditoí cannot be appointed as a GSl
   Auditoí
2. GSl píactitioneí is also not allowed to peífoím
   GSl Audit