GST audit
GST Audit
- Where turnover for financial year cross Rs. 2 crore such registered person need to get involved in GST Audit Process. First company need to identify turnover and audit applicability. GST audit certification need to be done by practicing Chartered Accountant or Cost Accountant. GST Audit Process may involve verification of GST returns filed , GST cash and electronic ledger, input tax validity , GST Refund applied , received, reconciliation of different GST ledgers. Validate correctness of GST liability declared , CGST/SGST/IGST cross utilization etc. From company to company different GST Audit process can be followed to validate required information.
Penalty Under GST Audit
- As per the penalty provisions of GSTR 9C audit return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consist of SGST and Rs. 100 for CGST. Also, it is to be noted that the total penalty cannot exceed 0.25% of the total turnover on which the said penalty is being levied.
APPLY FOR GST Audit
SK Gupta & Associates
SK Gupta & Associates is a Chartered Accountancy firm catering to Domestic as well as international clients. We are a CA firm in Lucknow, Uttar Pradesh, We have been providing advisory, regulatory and compliance related services.
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- 516 Parsavnath Plaza, Vibhuti Khand Gomti Nagar Lucknow
- caskgupta22@gmail.com
- 9918678448
- 9140323983