An audit is the inspection of one’s accounts or the organization’s account. Similar to that inspection of accounts, returns, records, bills, turnover and documents disclosed by the taxpayer under GST is the GST audit. This inspection is used to make sure that submitted expensed and documents are true and equally tally. As a verified Tax consultant in Chennai, the following guide will help you to GST registration in Chennai.
The eligible person for GST audit :
The person whose total turnover of a financial year exceeds more than Rs. 2 crores should audit their accounts. A taxpayer can audit his account by making the avail of CA or his accountant.
Types of GST Audit:
There are three types of GST audit. Let us discuss the three types of GST audit in detail.
1. Turover Audit:
This is a type of GST audit who is registered, has turnover exceeds more than 2 Crores INR. This can be either done by a CA or an experienced accountant of his known circle.
2. General Audit:
It is only carried out after an order is passed by the commissioner. A 15 days prior notice will be given for this audit. This audit will be carried out by the CGST or SGST commissioner or the authorized person appointed by them.
3. Special Audit:
This type of audit happens only after an order is passed by the deputy or assistant commissioner after the approval of the commissioner. This can be carried out only by the CA or Cost Work Accountant appointed by the commissioner.
Appointment of GST auditor:
A Proprietor, Partner, Board of Directors of a company can appoint an auditor or GST auditor at the beginning of the financial year.
Forms for Annual return and GST audit and GST registration in Chennai:
1. For general taxpayer filing GSTR 1 and GSTR 3B need to fill GSTR-9 form.
2. GSTR-9A form who falls under the composition Scheme.
3. GSTR-9B for e-commerce operators.
4. GSTR-9C for taxpayers whose income exceeds Rs. 2 crores.
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