BACKGROUND Audit under indirect tax laws is not a new concept. This concept of audit was also existing in the erstwhile Central Excise laws, State level VAT laws and Service tax laws. Audit is a tool available to the tax department to review and verify…
GST officers would have to audit and assess taxpayers via video-conferencing instead of undertaking physical visits amid the coronavirus pandemic, and the current guidelines need to be reviewed for this, according to experts. As per the current goods and services tax (GST) audit guidelines, taxpayers…
What are the types of Audit under GST Law ? Annual Audits: Mandatory for registered person whose aggregate turnover during a financial year exceeds 2 Crore. However for FY 2018-19 threshold limit has been prescribed at 5 Crore. (Section 35(5) and Rule 80(3)) Audit by…