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GST Audit checklist

1. Pre-Audit Preparation

Review the scope of the audit and objectives.

Gather necessary documents (GST returns, invoices, purchase orders).

Ensure accounting records are up to date.

Prepare a timeline for the audit process.

2. Documentation Verification

Check GST registration details for accuracy.

Verify all sales and purchase invoices.

Ensure proper documentation for exempt and zero-rated supplies.

Confirm the validity of input tax credit claims.

Here are some additional steps that could be included in the Documentation Verification section of the GST Audit checklist

Review the GST returns filed for consistency with the financial statements

Validate the authenticity of supporting documents for input tax credit claims

Check for proper maintenance of records as per GST compliance requirements

Ensure that all necessary documents for reverse charge mechanism transactions are in place

Confirm that the correct HSN/SAC codes are used on invoices

Verify the documentation for any adjustments or corrections made in GST returns

Check for documentation related to any exports and corresponding benefits claimed

Ensure that all relevant contracts and agreements are available and properly documented

Review the accuracy of documentation related to inter-state and intra-state supplies

Validate records of any advance payments and their corresponding tax implications

3. Compliance Check

Review filing status of GST returns (GSTR-1, GSTR-3B).

Assess compliance with timelines for filing returns.

Ensure all tax payments are made on time.

Verify adherence to reverse charge mechanism, if applicable.

4. Input Tax Credit (ITC) Analysis

Analyze ITC claims for eligibility and correctness.

Verify the nature of goods/services purchased.
Confirm that the purchases are used for taxable supplies.
Check for proper documentation supporting the claims.
Validate the accuracy of the claimed amounts.

Ensure proper matching of ITC as per GSTR-2A/2B.

Cross-reference ITC claims with GSTR-2A/2B data.
Identify discrepancies between filed returns and GSTR data.
Reconcile differences in ITC claimed and GSTR documentation.
Follow up on missing entries or mismatches.

Review documentation supporting ITC claims.

Collect all invoices and bills related to ITC claims.
Ensure invoices are correctly addressed and dated.
Check for GST registration numbers on invoices.
Confirm that the invoices are not duplicated.

Check for blocked credits and compliance with conditions.

Identify categories of goods/services not eligible for ITC.
Evaluate compliance with specific conditions for claiming ITC.
Review any changes in GST law affecting blocked credits.
Document any exceptions or justifications for claims.

5. Sales and Revenue Recognition

Validate sales entries against invoices issued.

Check for any discrepancies in revenue recognition.

Ensure proper allocation of revenue as per GST regulations.

Review any adjustments or discounts applied.

6. Expense and Purchase Review

Validate purchases against invoices received.

Ensure proper documentation for expenses claimed.

Check for any non-compliance in purchases that affect GST liability.

Confirm the treatment of capital goods and their ITC claims.

7. Final Review and Reporting

Prepare a draft report summarizing findings.

Discuss findings with relevant stakeholders.

Ensure that corrective actions are identified and documented.

Finalize and distribute the GST audit report.

8. Follow-Up Actions

Implement recommendations from the audit report.

Monitor compliance with GST regulations post-audit.

Schedule periodic reviews to ensure ongoing compliance.

Train staff on GST compliance and documentation practices.

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