Audit Under GST

Name: BC Shetty & Co GST Audit
Address: No. 78, Sai Sharan Heights, 5th Floor, Above ICICI Bank, 15th Cross, Margosa Road, MES College Road, Malleshwaram, Bangalore, 560 003, IN
Telephone: 08023443636

Discover comprehensive GST audit services at BC Shetty & Co. From review of tax returns to reconciliation reporting, benefit from our extensive experience. Enquire now!

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.

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.

FAQ

Who is required to undergo a GST audit?

Registered individuals who exceed a turnover threshold of INR 2 crore during a financial year need to undergo GST audit.

What documents are needed for a GST audit?

Here are some of the documents required for GST audit:

Balance sheets
Trial balance for the particular GSTIN
Income tax audit report
Statutory auditor’s report
Cost audit report
GST returns

What is the process for a GST audit?

To conduct a GST audit, you need to hire a chartered accountant and show him your books. He will audit the data and prepare a report on the findings.

How can BC Shetty Co. assist with GST audits?

You can rely on the chartered accountants at BC Shetty & Co. to conduct the GST audit on your behalf. They will carefully go through your accounts and come up with detailed findings on the same.

What services does BC Shetty Co. offer for GST audits?

The auditors at BC Shetty & Co. will review the classification of goods and services as per the HSN system. They will also review the outward liability on a monthly basis to match the GST returns filed.