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GST
GST Audit
A GST audit is an examination of a taxpayer’s records, returns, and other relevant documents to ensure compliance with the Goods and Services Tax (GST) laws. It verifies that the declared turnover, taxes paid, refunds claimed, and input tax credits (ITC) utilized are accurate and in accordance with the applicable regulations.
Self-Audit (By Taxpayer): P Square Taxpayers must maintain records and file returns accurately. Ensures compliance with GST provisions on a regular basis.
Conducted by a Chartered Accountant (CA) or Cost Accountant if the taxpayer’s turnover exceeds a specified threshold (varies by country, e.g., ₹2 crore in India).
Conducted by tax authorities as per GST laws. Authorities issue prior notice specifying the audit period and documents required.
Ordered by a GST officer when they suspect discrepancies in the taxpayer’s financial records. Conducted by a CA or Cost Accountant nominated by the tax authority.
P Square Accounts
Types of GST Audi
India has a Dual GST Model. Under this tax maybe levied simultaneously by both Central and State governments on certain taxable supplies. Such as on inter-state supplies, tax is levied by Central Government.
| Features | Central GST – CGST | State GST – SGST | Integrated GST – IGST |
|---|---|---|---|
| Tax Levied By | Central Government on Intra-State supplies of Goods and/or Services | State Government, on Intra-State supplies | Central Government, on Inter-State supplies |
| Applicability | Supplies inside a state | Supplies inside a state | Interstate supplies and import |
| Input Tax Credit | Against CGST and IGST | Against SGST and IGST | Against CGST, SGST, and IGST |
| Tax Revenue Sharing | Central Government | State Government | Shared between State and Central governments |
| Free Supplies | Applicable | Applicable | Applicable |
Who Must Get GST Audit
All businesses involved in buying or selling goods or providing services, or both, should register for GST. But for below-listed persons, GST Registration is compulsory.
- Previous Law Converted Taxpayer – All individuals or companies registered under the Pre-GST tax laws like Service Tax or Excise or VAT, etc.
- Turnover for Goods Provider – If your sales or turnover of goods is crossing Rs. 40 lakh in a year then GST Registration is mandatory. For the Special Category Status, the limit is Rs. 20 lakh in a year.
- Turnover for Service Provider – If you are a service provider & sales or turnover is crossing Rs. 20 lakh in a year then GST Registration is mandatory. For the Special Category Status, the limit is Rs. 10 lakh in a year
- Casual Taxpayer – If you supply goods or services, in events/exhibitions, and not have a permanent place of doing business. In such cases, GST is charged based on an estimated turnover of 90 days. The validity of the Registration is also 90 days.
- Agents of Suppliers or Input Service Distributor (ISD) – All supplier agents and ISD, to earn benefits of Input Tax Credit, need GST Registration.
- NRI Taxable Person – If you are an NRI or handling the business of NRI in India.
- Reverse Charge Mechanism (RCM) – Businesses who need to pay taxes under the RCM also need to be GST registered.
- E-Commerce Portals & Sellers – Every e-commerce portal (such as Amazon or Flipkart) under which multiple vendors are selling their products. Or for all vendors. You need a GST Registration.
GST Audit Process on Government Portal
To register for GST on the Government site, you need to follow the below steps. Cautiously & Accurately.
- Go to the Government GST Portal and look for Registration Tab.
- Fill PAN No., Mobile No., E-mail ID and State in Part-A of Form GST REG-01 of GST Registration.
- You will receive a temporary reference number on your Mobile and via E-mail after OTP verification.
- You will then need to fill Part-B of Form GST REG-01. To be duly signed (by DSC or EVC) and upload the required documents specified according to the business type.
- An acknowledgment will be generated in Form GST REG-02.
- In case any information is pending from your side. It will be sought from you by intimating you in Form GST REG-03. for this, you may be required to visit the department and clarify or produce the documents within 7 working days in Form GST REG-04.
- The office may also reject your application if they find any errors. You will be informed about this in Form GST REG-05.
- Finally, a certificate of registration in Finally, a certificate of registration will be issued to you by the department after verification and approval in Form GST REG-06.
Procedure for
GST Audit through P Square
Fill the simple application form provided on our website.
Send your documents that are required according to your category of business.
We will file all your forms on behalf of you along with the declaration.
As soon as we will get your GST number, we will send you by E-mail.
Package in included
What is included in our Package.
Accounts payable functions
Accounts receivable functions
Accounts reconciliation
Monthly analysis
Payroll
About
What is GST audit?
A GST audit is a document that registered taxpayers must file under the Goods and Services Tax (GST) system. It contains details of their sales, purchases, tax collected on sales (Output GST), and tax paid on purchases (Input Tax Credit or ITC). The return helps the government calculate the taxpayer’s GST liability or refund eligibility. Various types of GST returns exist, such as GSTR-1 for outward supplies, GSTR-3B for summarizing tax payments, and GSTR-9 for annual returns. Filing is mandatory for compliance and to claim ITC, ensuring business transparency and avoiding penalties. Returns are filed monthly, quarterly, or annually based on the taxpayer’s category.
Why should you
Maintain Books of Accounts?
It is a Statutory Requirement for all businesses except for Sole Proprietorship.
Helps you review your performance and take steps to improve.
Maintaining books of accounts helps you when you need funding from investors.
Below is a detailed
Frequently Asked Questions
A GST audit is the examination of a taxpayer’s records, returns, and documents to ensure compliance with GST laws. It verifies turnover, taxes paid, input tax credit (ITC) claims, and adherence to GST regulations.
Taxpayers with turnover exceeding the prescribed threshold (e.g., ₹2 crore in India) must undergo a mandatory audit.
Turnover-based Audit: Mandatory for taxpayers exceeding the turnover threshold. Departmental Audit: Conducted by tax authorities.
GST registration certificate. GST returns (GSTR-1, GSTR-3B, GSTR-9, etc.). Sales and purchase registers. Tax invoices and e-way bills.
Keep records up-to-date and reconciled. Ensure GST returns match the financial statements. Regularly review ITC claims and tax payments.
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What our Customers say?
“I had shared my GST and ITR work with 3 to 4 other CAs earlier, but I truly appreciated the service from P Square Accounts. Their team is responsive, helpful, and professional. Highly recommended!”
- Taswin Patel - Maa Infra
“Best financial service I’ve experienced so far. The team provides excellent support, handles each task with care, and always meets timelines. Thank you so much, P Square team, for your kind and prompt support across all types of financial solutions.”
- Mehulkumar Vandikar
“Excellent follow-up and end-to-end service by P Square Accounts. Thank you for handling the registration of our firm, Aemje Architect, smoothly and professionally.”
- Chetan Sutariya
P Square is a very kind and superb service provider for all accounting needs. Truly grateful for the support — thank you so much to the entire P Square team!”
- Kartik Patel - Uniqe Fabchem
"We’ve been working with Psquare Accounts for over 3 years now. Their team has always ensured timely GST filing, perfect bookkeeping, and full compliance. Highly reliable and professional!"
- Mehul Patel - Patel Infotech
"I had zero knowledge of tax filing. Psquare Accounts made the entire process easy and smooth. Their personal attention and clarity impressed me the most."
- Jagdish Patel - LF Automation
"Thanks to Psquare Accounts, I no longer worry about my business compliances. From GST to ITR, they manage it all efficiently, with regular updates and follow-ups."
- Jignesh Patel -Blasttop
"Excellent service with perfect documentation and timely reminders! Psquare Accounts is the best financial partner we could ask for."
- Rushit Dave - Lifeline Fitness Gym
"Very cooperative and knowledgeable team. I appreciate the way Psquare Accounts explained every step of our company registration. No hidden charges, only genuine advice."
- Viral Antala - Dolphine
"Psquare Accounts is a one-stop solution for all accounting and legal services. We trust them completely for our tax, payroll, and registration needs."
- Dr Ankit Narola
"Highly satisfied with the prompt support and transparency. Psquare Accounts gives me peace of mind during every tax season."
- Vaibhav Yadav - Galaxy The Brand Hub
"They helped us save thousands in penalties by managing our late returns properly. Psquare Accounts is proactive, honest, and highly skilled."
- Samit Patel - Suleshwari Corporation
"From ITR filing to MSME registration, everything was done within 48 hours. Superb speed and communication by the Psquare team!"
- Dhruv
"I’ve worked with multiple CA firms, but Psquare Accounts stands out with their clear process, trained staff, and value-driven services."
- Kamlesh Patel
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