Section 35(5) of CGST Act 2017 requires a registered taxable person with turnover of more than Rs.2 crore in a year to get his books of account audited by a chartered accountant or cost accountant. The due date for submission of audited financial accounts including reconciliation statement for a financial year would be 31st December of subsequent year.

We conduct audit of books of accounts under GST which would cover following aspects:

  • Review of outward supplies declared in return to ensure that it included all outward supplies made
  • Review of inward supplies declared in return to ensure that it included all inward supplies made
  • Review of all deductions claimed including sales returns, abatements, exemptions
  • Review of classification, rate of goods which should be according to provisions of GST
  • Assessment of registrations obtained
  • Review of input tax credits claimed on inputs, input services and capital goods
  • Review of reconciliation statements are to be filed along with certified audit report.
  • Conducting audit in accordance with all other requirements as per GST Act

Audit certification should not be considered merely as attestation function. A good auditor should be able to add great value to the auditee within the four corners of law. We strive to achieve the objective of value addition for client along with performance of statutory obligation of conducting audit as mandated under the law.