GST Audit Services in Hyderabad
A Comprehensive Guide to Compliance and Assurance
What is a GST Audit?
GSTR-9C is an essential form for annual GST reconciliation filed by applicable taxpayers.
A GST Audit is a comprehensive examination of a taxpayer’s financial records to verify the accuracy of returns filed under the Goods and Services Tax law. It ensures that all GST payments, claims, and credits are correctly reported and compliant with government regulations.
At Sandeep Nalla & Co., we provide end-to-end GST audit services in Hyderabad, helping businesses maintain compliance and avoid penalties.
Unlocking Growth Potential with a GST Audit
What is GSTR-9C?
Definition
GSTR-9C is a reconciliation statement that compares the figures reported in the annual GST return (GSTR-9) with the audited financial statements of a taxpayer. It highlights any differences between the two and ensures that all GST transactions are properly accounted for.
Purpose
To reconcile gross and taxable turnover as per books with GST returns.
To identify and explain any discrepancies or mismatches.
To ensure accurate and transparent financial reporting for GST compliance.
Applicability & Turnover Limit
GSTR-9C Applicability
The GSTR-9C audit applies to all registered persons under GST whose aggregate turnover exceeds ₹5 crore during the financial year.
Enhanced Turnover Limit
📘 Note: The turnover limit for GSTR-9C has been enhanced to ₹5 crore for FY 2018–19 to FY 2022–23 as per CBIC notifications.
Due Date for GSTR-9C
Deadline
The GSTR-9C form must be filed on or before 31st December of the following financial year — the same due date as GSTR-9 (annual return).
Extension Possibility
For example, the due date for FY 2022–23 was 31st December 2023. However, the government may extend this date through official notifications.
Importance of GSTR-9C
A GST Audit helps in:
✅ Ensuring compliance with GST laws and regulations.
✅ Identifying discrepancies between GST returns and financial statements.
✅ Reducing the risk of penalties or notices from authorities.
✅ Enhancing the credibility and transparency of financial statements.
✅ Providing a verified and reconciled view of tax data for business stability.
Embracing the GST Audit
Take the First Step Toward Growth and Stability with Sandeep Nalla And CO