/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
The term ‘audit’ under GST means the examination of records, returns and other documents maintained by a registered taxable person. The purpose is to verify whether the turnover declared, taxes paid, refund claimed and input tax credit availed is correct.
As per the applicability provisions specified by the GST Council, every registered taxable person whose turnover during a financial year crosses INR 2 Crore, should get his accounts audited by a chartered accountant or a cost accountant. Thus, he shall electronically file:
A Commissioner or any officer authorised by him can undertake general GST audit of any registered taxable person. The following are the key points to be kept in mind, as far as the general GST audit is concerned:
At any stage during a process of scrutiny, enquiry or investigation, if an officer or Assistant Commissioner feels that the value of tax has not been correctly declared or wrong credit has been availed, he can initiate a special GST audit, with prior approval of the Commissioner. The following are the key points to be kept in mind, as far as special GST audit is concerned:
If any taxable person, after having furnished a return discovers any omission / incorrect details, via the audit results, he can rectify the same, subject to payment of interest. However, no rectification will be allowed after the tax filing is completed for the month of September, or the second quarter following the end of the financial year, or the actual date of tax filing of the relevant annual return - whichever is earlier.
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