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](img/services/gst-audit.jpg)
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.