GST Audit
Goods and Services Tax (GST) in India is structured to enable efficient tax collection, minimize cascading taxes, reduce corruption, and promote seamless inter-state trade. A GST audit entails a comprehensive examination of the books and records maintained by a registered taxpayer to verify the accuracy of GST returns filed, taxes paid, and compliance with provisions under the GST Act.
At PRATAPKARAN PAUL & CO, we are renowned for offering practical and result-oriented solutions to complex GST matters. As experienced GST compliance consultants in India, we bring deep domain expertise to every engagement. Our team meticulously examines the flow of transactions, reconciles turnover, reviews input tax credit (ITC) claims, and ensures proper classification of goods and services.
We help businesses navigate annual GST audits, internal GST health checks, and risk assessments to prevent future disputes or penalties. Our proven track record in GST compliance audits ensures businesses remain audit-ready, avoid litigation, and benefit from process improvements. Whether you're a startup, SME, or a listed enterprise, our tailored GST audit services enhance transparency, reduce tax risk, and support growth through robust tax governance.
Outward Supplies Review:
- We cross verify outward supplies declared in returns against books and invoices, ensuring all taxable sales have been captured accurately preventing omissions or under-reporting.
Inward Supplies Review:
- We assess inward purchases declared versus actual receipts, including vendor invoices and reversal rules, to ensure accurate input tax credit (ITC) compliance.
Deductions & Exemptions Review:
- Scrutiny of claimed deductions (sales returns, abatements, tax-exempt supplies) ensures they conform with GST rules, minimizing risk of incorrect claims or disallowances.
Classification & Rate Review:
- We verify that goods and services have been correctly classified and taxed at appropriate GST rates according to statutory provisions to avoid mis classification risks.
ITC & Capital Goods Review:
- We examine claims on ITC for inputs, services, and capital goods to ensure proper documentation and compliance, reducing risk of wrongful credit claims.
Registration Assessment:
- We validate the legitimacy and coverage of GST registrations—single vs. multiple—and assess adequacy of GST compliance mechanisms across locations.
Reconciliation and Report Certification:
- We reconcile return data with books and ledgers, and certify the audit report, optimizing accuracy and aiding transparency—enhancing stakeholder confidence.
Full GST Compliance Audit:
- We ensure the entire books of accounts and return records align with GST Act requirements, testing for anomalies, compliance gaps, and operational inconsistencies