Internal audit under GST is a process under which the accounts and records of the registered taxable person get audited by the certified accountant. Internal audit is carried out by examining the GST paid or payable, Input Tax Credit claimed, GST refund availed as well as by verifying the turnover of the taxpayer.
Source: mastersindia.co
Latest Posts in "India"
- CBIC Clarifies GST Implications on Secondary or Post-Sale Discounts for Businesses
- India Slashes GST on Drones to 5%, Boosting Domestic Manufacturing and Sectoral Growth
- GST Reforms 2025: Boosting Textiles, Apparel Affordability, and Logistics Efficiency in India
- GST Credit Notes: Use Original Invoice Rate for Returned Goods, Not Revised Rate
- India Cuts GST on Renewable Energy to 5%, Boosting Solar Affordability and Green Jobs