GST AUDIT – TYPES, OBJECTIVE, APPLICABILITY Audit under GST is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST. When GST Audit is required to be conducted? Any registered taxable person whose annual aggregate turnover exceeds 5 crore INR during a financial year needs to get their accounts audited. OBJECTIVES OF GST AUDIT Audit is examination of records, return and other documents. Those records, returns and documents might have been maintained or furnished under GST law or any other law. To verify the correctness of :- Turnover declared Taxes paid Refund claimed Input tax credit availed To assess auditee’s compliance with the provisions of GST Act and Rules. Types of GST Audit Mandatory GST Audit (Section 35(5) Audit by professionals) Departmental GST Audit (Section 65 Audit by Tax Authorities) Special Audit (Section 66 Audit by Tax Authorities)

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