According to Sec 35(5) of CGST Act, 2017, GST Audit needs to be undertaken mandatorily for all organizations/individuals with a turnover of more than Rs. 2 crores during a financial year by a Chartered Accountant or a Cost Accountant.
The audit aims at verifying the correctness of the turnover declared, taxes paid, refund claimed, and input tax credit availed over the financial year, and to assess the compliance with the provisions of GST. Learn more about GST Audit and the GSTR-9C form that needs to be filed by accessing the presentation below.
For any questions or further clarifications on the points discussed, you can reach out to our GST Advisor, CA Shweta Mittal at email@example.com.