GST Audit Services at Four Plus Legal Compliance
A GST Audit is a process of verifying a registered taxpayer’s GST records, returns, and transactions to ensure full compliance with the Goods and Services Tax (GST) laws. The audit involves reviewing your financial and accounting records, tax invoices, credit claims, and returns to confirm that your business is meeting all statutory requirements under GST.
At Four Plus Legal Compliance, we provide expert GST Audit services to help you assess your GST compliance, avoid potential discrepancies, and ensure that you are accurately reporting your taxable income and claims.
Why is GST Audit Important?
- Compliance Assurance: Ensure that your business adheres to GST regulations, avoiding penalties, fines, and legal issues.
- Tax Accuracy: Verify the correctness of your GST filings and payments, ensuring that you are paying the correct amount of tax.
- Claim Validity: Audit helps confirm the eligibility of Input Tax Credit (ITC) claims, ensuring that they are fully supported by valid documentation.
- Avoid Penalties: A GST audit helps identify potential discrepancies and errors in your tax returns, helping you avoid costly penalties for non-compliance.
- Increased Transparency: Provide transparency in your tax filings and accounts, which can enhance your business’s reputation and credibility with tax authorities.
Who Needs a GST Audit?
As per the GST law, GST Audit is mandatory for businesses that meet the following criteria:
- Turnover Threshold: If your annual turnover exceeds ₹2 crore, you are required to undergo a GST audit.
- Voluntary Audit: Even if your turnover is below ₹2 crore, you may opt for a voluntary GST audit to ensure proper compliance and reduce future risks.
- Registered GST Taxpayers: All taxpayers who are registered under GST and meet the turnover criteria need to undergo GST audit.
- Companies and LLPs: Companies and LLPs are required to maintain books of accounts that comply with GST rules and undergo regular audits.
Our GST Audit Services Include:
- Review of GST Returns: We thoroughly check your GST returns (GSTR-1, GSTR-3B, etc.) for accuracy and compliance with the GST law.
- Assessment of Input Tax Credit (ITC): We verify your claims of ITC to ensure that they are valid, supported by the necessary documents, and properly reported.
- Audit of Sales and Purchases: We check the sales and purchase records to ensure that all GST collections and payments are correctly recorded.
- Reconciliation of GST Data: We reconcile the data from your GST returns with your financial statements to identify and correct discrepancies.
- Final Audit Report: A comprehensive report detailing audit findings, highlighting areas for improvement, and offering recommendations for future compliance.
- Tax Liability Evaluation: We help calculate any additional GST liability, if applicable, and ensure that it’s reported and paid on time.
Why Choose Four Plus Legal Compliance for Your GST Audit?
- Experienced Team: Our team consists of experienced professionals well-versed with GST laws, ensuring that your audit is comprehensive and accurate.
- Timely Services: We ensure that your GST audit is completed within the statutory deadlines, preventing any risk of penalties or fines.
- Error-Free Audit: We strive to identify and correct any discrepancies before they become costly errors, giving you peace of mind.
- Customized Approach: We offer tailored GST audit solutions based on your specific business needs and industry requirements.
- Transparency and Trust: Our services are based on transparency, and we ensure full confidentiality of your financial information.
- Cost-Effective: Our GST audit services are affordable, ensuring that you get the best value for your investment in compliance.
Contact Us for GST Audit Services
Ensure full compliance and avoid future risks by choosing Four Plus Legal Compliance for your GST audit needs. Our experts are here to guide you through every step of the audit process.
Get in touch today to schedule your GST audit and ensure smooth and compliant business operations.