GST Audit Services – TwinDesk Accounting and Legal Advisors LLP
At TwinDesk Accounting and Legal Advisors LLP, we provide comprehensive GST audit services to ensure compliance,
accuracy, and efficiency in tax operations. Our team of experienced GST consultants in Delhi helps businesses
navigate the complexities of GST regulations and reporting.
Our GST Audit Services
Our expert team offers the following services as part of the GST audit process:
- Monthly ITC Reconciliation – Comparing ITC between GST returns and books of accounts.
- ITC Eligibility & Reversals – Advisory on ITC claims, reversals, and reclaims.
- Output Tax Liability Review – Monthly review of output tax liability.
- Annual Return Reconciliation – Matching annual returns with audited financial statements.
- Reverse Charge Mechanism (RCM) – Determining applicability and correct treatment.
- Internal Control Recommendations – Improving internal compliance systems.
- Non-Compliance Cost Analysis – Structured cost analysis to mitigate risks.
- Timely GST Reporting – Ensuring accurate and timely statutory filings.
What is a GST Audit?
A GST audit is a detailed examination of financial records, GST returns, and compliance documents of a registered
person. It verifies sales, output tax payments, ITC claims, and refunds.
The audit reconciles audited financial statements with the annual return (GSTR-9C) and ensures adherence to GST
regulations.
At TwinDesk Accounting and Legal Advisors LLP, our GST experts ensure a smooth audit process aligned with your
business objectives.
Who Requires a GST Audit?
As per Section 35(5) of the CGST Act, 2017, a GST audit is mandatory for businesses with annual turnover exceeding
₹2 crores.
- Audited Financial Statements
- Reconciliation Statement (Form GSTR-9C)
- Other prescribed documents
Aggregate turnover includes taxable, exempt, export, and inter-state supplies, excluding GST and inward supplies
liable to RCM.
Checklist for a GST Audit
A GST auditor evaluates the following areas:
Registration Compliance
- New registration or migration
- Business verticals, factory, warehouse, and ISD details
- Inclusion of all business locations
- Verification of amendments
Invoicing & Documentation
- Correct issuance of tax invoices and vouchers
- Credit/Debit note compliance
- E-way bill compliance
- Unique invoice numbering
Supply Classification
- Taxable, exempt, export, nil-rated classification
- Inter-state vs intra-state supply
- Composite vs mixed supply
Time of Supply (TOS)
- Compliance under Sections 12 & 13
- RCM time of supply
- GST rate change compliance
Input Tax Credit (ITC) Compliance
- ITC validation with vendor invoices
- Reconciliation with GST returns
- Blocked credit verification
- ITC reversals where applicable
- Reconciliation with GSTR-2A & GSTR-3B
Goods & Services Classification
- HSN/SAC verification
- Rate change identification
Input Service Distributor (ISD) Compliance
- ISD registration verification
- Proper ITC distribution
GST Returns Review
- Reconciliation of GSTR-9 with GSTR-1 & GSTR-3B
- Interest, late fee, and amendment checks
GST Collections & Payments
- Timely tax payment verification
- Correction of incorrect tax heads
Reverse Charge Mechanism (RCM)
- Compliance under Section 9
- Correct ITC claims on RCM
Valuation of Supply
- Valuation under Section 15
- Discount and valuation rule compliance
Place of Supply Compliance
- Inter-state and intra-state determination
- Export compliance under LUT/Bond
Refunds & Claims
- Refund eligibility verification
- Detection of incorrect claims
Inward Supplies Verification
- Classification of inward supplies
- ITC reconciliation with invoices
Books of Accounts Maintenance
- Electronic or manual record maintenance
- Separate records for multiple locations
General Compliance
- Anti-profiteering compliance
- Review of departmental audits
- Previous audit report analysis
- Identification of unusual transactions
GST Auditor Appointment
- Proprietorship – Appointed by Proprietor
- Firm/LLP – Appointed by Partners
- Company – Appointed by Board of Directors
Documents Reviewed During a GST Audit
- Outward & Inward Supply Registers
- Inventory Registers
- Expense Ledgers & ITC Records
- GST Payment Records
- E-Way Bills
GST Audit Report Submission
- Accuracy of financial records
- Conformity with books of accounts
- Reporting of discrepancies
Penalty for Non-Filing of GST Audit Report
While no specific penalty is prescribed, a general penalty of up to ₹25,000 may be imposed under GST law.
Looking for Expert GST Audit Services?
At TwinDesk Accounting and Legal Advisors LLP, we ensure seamless GST audits with complete accuracy and compliance.
Contact Us: admin@twindeskllp.com