Key Problems in GST Audit

By | November 17, 2018
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(Last Updated On: November 17, 2018)


Also Refer GST Audit : Free Reference Material

Major problem faced while carrying out GST audit for the financial year 2017-18

  • HSN of inward supplies is required in the annual return GSTR 9 which was not needed while filing monthly GSTR 3B.
  • Multiple audits under indirect tax laws: VAT audits and Service Tax audit may be required to be carried out for the first quarter and GST audit for the next three quarters;
  • The difference in the annual return as per the books of accounts and GST data filed during the financial year.
  • Segregated details of ITC availed are required as Inputs/Input services/ Capital Goods
  • Reporting of the amended transactions relevant to the FY 2017-18 filed in the returns of April to September of current FY or up to the filing of annual return of FY 2017-18 i.e. 31 Dec 2018, whichever is earlier.
  • Complex procedural compliance under GST
  • Lack of clarity in the GST law, frequent changes in the law, issuance of more than 300+ notifications;
  • Failure of the matching concept – whether it would be possible to identify if the supplier has failed to remit taxes to determine eligibility of credits;
  • Reliability of the audit software is not tested;
  • Absence of/incomplete mandatory records;
  • High volume of procedural lapses and non compliances by the assesses, incorrect documents/documentation procedures;
  • Transitional issues (law does address all types of transactions).

Video : How to do GST Audit :Part 1 : GST News Part 218 :

Video : How to do GST Audit : Part 2 : GST News Part 220 :

Video : How to do GST Audit Part 3 : GST News Part 224 :


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