What GST Audit
by GST MITRA GST Registration| Online GST Application ProcessThe GST Audit
File program is used to produce a data file to submit information for a letter from the Royal
Malaysian Customs Department and this kind of audit is specific taxable year
and period relevant to auditors, in response to an audit request for information under GST and it is the process of
examination of records, returns and other the compliance with the provisions of
GST.
Suppose documents maintained by a taxable person and the
purpose is to verify the correctness of turnover declared, taxes paid, refund
claimed an input tax credit availed, and to assess you are a registered member
and your turnover during a financial year exceeds the prescribed limit shall
get their accounts audited by a chartered accountant or a cost accountant, and
one will have to submit or deposit a copy of the audited annual accounts, the
reconciliation statement under sub-section (2) of section 44 and such other
documents in such form and manner as may be prescribed.
Benefits of
GST Audit: With
the end of the 1st (First) Financial Year of Goods &
Service Tax Act being implemented in India, we would certainly be trying to
avoid errors on the GST Compliance Part. One of the biggest benefits of Goods
and service tax is that most of us feel that after the introduction of GST we
are able to cop up with the errors like Non-payment / Short Payment of Output
liability.
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Created on Mar 1st 2019 03:59. Viewed 376 times.