What Do you mean by GST Audit?

What Do you mean by GST Audit?

GST Audit means examination of records, returns and documents maintained and furnished by registered person to check the following:-                      a) Verify the correctness of turnover declared.                                                                                                                                                                            b) Input tax credit availed and utilized.                                                                                                                                                                                          c) Exemptions and deductions claimed.                                                                                                                                                                                        d) Rate of tax applied in respect of supply of goods or services etc.                                                                                                                                                                                                                                                                                                                                                                                                    The following three types of GST audit are envisaged under the GST Law:-      
1. GST Audit u/s 35(5) of Act, if turnover exceeds prescribed limit (i.e Rs. 2 Crore)                                                                                                                    2. GST Audit by tax authorities u/s 65.                                                                                                                                                                                          3. Special GST audit direction from department u/s 66

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