Trusted GST Audit Services for Compliance & Accuracy

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The GST law mandates a yearly compliance audit, integrated into the Annual Return. For taxpayers, prioritizing the audit of compliances under the GST law is imperative, with input and output reconciliations constituting integral components of GST audit certification. The Annual Return audit, commonly known as GST audit, serves as the First external verification/assessment under the GST law.

GST audit needs a strong mechanism and digital environment through the examination of the records to ensure full compliance of tax rules. At Pentagon Taxcorp, we offer error-free GST audit services after thoroughly checking the important audit check-points.

Types of GST Audit

 

Audit based on turnover

Under Section 35(5) of the Central Goods and Services Tax (CGST) Act, 2017, the taxpayer needs to get audited under GST law and file GSTR9C reconciliation statement when the annual turnover exceeds 5 crores.

General Audit/ Normal Audit

It is performed by the Commissioner of CGST/SGST office or any Officer authorized by him. General or normal audit are initiated on the passed order of the Commissioner by giving 15 days prior notice to the taxpayer.

Special Audit

Special Audit are conducted by a Chartered Accountant or Cost Accountant, who has been nominated by tax Commissioner. It is initiated or performed when an order from Deputy or Assistant Commissioner with prior approval of Commissioner is passed.

Our GST Audit Services cover the following areas:
GST Compliance Review:We conduct a thorough review of your GST compliance to identify any discrepancies, mismatches, or errors in your returns, invoices, and books of accounts. This helps to ensure that your business is fully compliant with the GST Act.
GST Reconciliation:Our team will reconcile between books and monthly/ quarterly returns and the ITC claimed in your GST returns with the ITC reflected in your books of accounts and Reconciliation between value of supplies as per annual return with audited financial statement
Review of Input Tax Credit: Assist in maximization of credit availment under GST law. Verification of payments made to suppliers vis-à-vis claim of Input Tax Credi. Analysis of ineligible transactions and reversal of excess ITC claimed and computation of interest. Reversal of ITC on sample sales, wastage etc. and exceptional events like damages, fire accidents etc. Scrutinizing ledgers and verification of payment of GST under Reverse Charge Mechanism on taxable transactions
GST Advisory:Our experienced team can provide expert advice on GST-related issues, including eligibility, reversals, and re-claim of ITC, the applicability of RCM, and internal controls for increasing efficiency and Identification of applicable notifications and circulars to the business of client.
Cost of Non-Compliance Matrix:We provide a detailed report on the cost of non-compliance with GST regulations, which can help businesses to make informed decisions about their compliance strategy.
GST Audit Report:Our team will prepare a comprehensive GST Audit Report that covers all aspects of your GST compliance, including a detailed analysis of your ITC, output tax liability, and compliance with GST provisions.

At Pentagon Taxcorp, we are committed to providing qualitative value-added services. This includes a thorough examination of all GST records, coupled with our recommendations to enhance internal controls for accurate data entry, meticulous data recording, comprehensive data analysis, and meeting data requirements for compliance.

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