At KAPG and Associates, we offer specialized Goods and Services Tax (GST) audit services aimed at ensuring compliance with GST laws and regulations, identifying potential risks, and optimizing GST outcomes for businesses. Our team of Chartered Accountants possesses deep expertise in GST compliance, providing independent and thorough audits to enhance transparency and mitigate compliance risks.
We begin by planning the GST audit process, including understanding the client's business operations, assessing risk areas, and determining audit objectives and scope.
Our auditors conduct detailed testing of GST transactions, reviewing invoices, input tax credits (ITC), GST returns, and compliance with GST provisions to verify accuracy and completeness.
We gather sufficient and appropriate audit evidence, including documentation, reconciliations, and explanations for significant GST transactions and deviations.
We reconcile GST returns (GSTR-3B, GSTR-1, etc.) with underlying records, ensuring accuracy in reporting GST liabilities, ITC claims, and compliance with filing requirements.
Our audit includes a thorough review of ITC claims, verifying eligibility criteria, documentation requirements, and compliance with GST input tax provisions to minimize risks of ITC reversals.
We verify GST payments made to the government against GST liabilities calculated and reported in GST returns, ensuring compliance with payment deadlines and statutory requirements.
Our audit report identifies findings, including errors, discrepancies, non-compliance with GST provisions, and recommendations for corrective actions to improve GST compliance and reporting accuracy.
We provide a management letter summarizing audit results, highlighting areas of concern, and offering suggestions for enhancing internal controls, GST processes, and compliance frameworks.
We issue an audit opinion on the accuracy and fairness of GST reporting and compliance, providing stakeholders with assurance on the reliability of GST information and disclosures.
We offer advisory services on GST implications, compliance issues, and regulatory changes, helping businesses interpret GST laws, optimize GST planning, and mitigate risks.
Our firm assists in implementing remedial actions based on audit recommendations, including process improvements, staff training, and corrective measures to strengthen GST compliance and controls.
We represent clients in discussions with tax authorities, responding to audit queries, and assisting in resolving disputes related to GST assessments, penalties, or compliance issues.
We provide ongoing support post-audit, monitoring changes in GST laws, updating clients on regulatory developments, and assisting in adapting GST compliance strategies accordingly.
Our firm conducts periodic reviews of GST compliance processes, internal controls, and documentation practices to ensure ongoing adherence to GST laws and regulations.
We offer GST training programs and workshops for client teams, enhancing their understanding of GST compliance requirements, procedural updates, and best practices.
Our team includes Chartered Accountants with specialized knowledge and experience in GST laws, compliance requirements, and audit methodologies, ensuring comprehensive GST audit services.
We prioritize understanding our clients' business operations and GST compliance challenges, delivering tailored audit solutions that address their specific needs and mitigate risks effectively.
We adhere to rigorous quality control processes, professional standards, and ethical guidelines to provide accurate, reliable, and insightful GST audit services that add value to our clients' businesses.
If you have any work from us or any types of queries related to auditing,accounting,finance and many more, you can send us a text message from here. It will be our pleasure to help you.