GST Audit

  • GST Audit applies every year for those GST registered businesses (GSTIN) having turnover more than Rs.2 crore, by the sale of goods or services in the financial year. It is dealt under Sections 35(5) and 44(2) of the CGST Act.
  • As per the Finance Act, 2021, the requirement of GST audit and submission of GSTR-9C as certified by the CA/CMA is removed. It will come into force once notified by the CBIC. Meanwhile, as per the 43rd GST Council meetingthat was held on 28th May 2021, the GST Council recommended that GSTR-9C may be still submitted as self-certified by taxpayers with annual aggregate turnover of equal to or more than Rs.5 crore. The same is yet to be notified by the CBIC as on 11th June 2021.