Skip to main content
GST Review November-2024

Necessity of GST internal audit

Kishor Lulla
Any GST raid or scrutiny or audit can significantly impact businesses, affecting operations, reputation, and finances. Hence it is advisable to get entire record duly checked voluntarily by GST experts. By doing this, a registered person can find out unknown mistakes which saves him from heavy tax dues, interest & penalty. Normally the check list of your tax consultant is as under- Document Organization: Maintain organized GST-related records, including invoices, e-way bills, ITC records, and tax returns. IT and Digital Data Backup: Ensure proper backup of digital records and data. Employee Awareness and Training: Train key employees on interacting with tax officers. Compliance with GST Returns: File returns on time, ensuring accuracy. .......