March 23, 2023
GST Audit Checklist for the financial year end is explained in this short article that every small and medium sized businesses should follow before the end of this financial year. In this article, we have touched upon TEN most important points to be considered before you file your GST returns for the month of March
November 11, 2021
GST Audit has become essential with every passing day. This is especially true for businesses with multiple GST registrations. It becomes challenging for such businesses to keep track of all the GST activities in their various depots or sub-units with individual GST registration. Hence, it becomes necessary for such businesses to have a centralized mechanism to check
November 8, 2021
GST structure can sometimes become complicated when a business has multiple registrations.It becomes difficult for all the business units to comply with the GST laws in the entirety, and in some places, the GST laws and regulations get violated.To address all these issues, a business should prioritize its routine ‘in-house audit’ that identifies such discrepancies
May 13, 2021
GST audit or Audit, as defined under section 2(13) of the Central Goods and Services Tax Act, simply means an examination of returns; records; and relevant other documents. There are following two types of audits under GST-Type of GST auditGoverning sectionRemarksAudit based on threshold limit (popularly known as GST audit)Section 35(5) of the CGST ActThe registered
April 26, 2021
GST follows a trust-based mechanism. Accordingly, the registered person himself assess the tax liability; pay the taxes and files GST returns. Hence, GST audit is important to ensure the correctness of the self-assessment done by the registered person.The present article discusses details from the GST Audit checklist necessary for a GST departmental audit.Audit and types
