GST Audit Services is a process in which all the documents, records and returns maintained and filed by taxpayers is being examined by GST officials. GST Audit was introduced from July 2017 by the taxation authorities to keep a check that the registered entities are paying appropriate GST or proper refunds are being claimed or not.
GST Audits are being held for the purpose of verifying the authenticity of the documents and information furnished by the taxpayer regarding mentioned turnover, taxes paid, Input Tax Credits availed and the refunds claimed. It is done to check whether the taxpayer is compliant with the laid GST laws or not.
The provisions that have been laid down by GST Council for conducting and regulating GST Audit in India are –
- Section 2(13) of the CGST Act, 2017 defines the term ‘AUDIT’.
- Section 35(5) of the CGST Act, 2017 deals with turnover limit prescribed for conducting GST Audit.
- Section 65 in Chapter XIII of the CGST Act, 2017 deals with audit by tax authorities.
- Section 66 in Chapter XIII of the CGST Act, 2017 deals with special audit.
