Best GST Audit Service by Experts | My Startup Solution

My Startup Solution provides proper GST Audit services to our clients in Lucknow through our well-experienced consultancy team, ensuring that audits are well done, reliable, and compliant within the regulations, enhancing tax processes.

Our GST Audit Services

We help with all aspects of GST auditing, including:

• Monthly Input Tax Credit Analysis: Monthly comparison of ITC between your books and filed returns to identify mismatches or discrepancies.

• ITC Eligibility and Reversal: ITC guidance on eligibility, reversals, and reclaims will enable maximum tax benefits.

• January Monthly Output Tax Liability Review: Regular check on the output tax liability for reporting and compliance.

• Annual Return Reconciliation: Reconciliation of value of supplies as declared in your annual return against audited financial records.

• Compliance with Reverse Charge Mechanism: Assess and execute RCM transactions correctly for smooth compliance with GST laws.

• Suggestions to Improve Internal Control: Identify internal controls for improvement for more efficiency and minimizing the risk of non-compliance.

• Timely reporting: Reports and statements presented in due time under the GST law; hence no penalty.

Understanding GST Audit

GST audit - An overall review of the financial statements, returns, and records to check if figures reported in the annual returns are acceptable. Reconciliation of the audited financial statements with return filed under GST will check if your records are in compliance with law. Our GST audit service ensures that your business meets these requirements, which will bring comfort and avoid penalties.

Who needs a GST Audit?

Under the provision of Section 35(5) CGST Act, 2017, GST audits apply to every business whose gross turnover in a financial year exceeds ₹2 crores. Such a business entity must deliver the following

1. Audited Financial Statements
2. Reconciliation Statement (Form GSTR-9C)
3. Other documents as the law may provide

The term "aggregate turnover" refers to the combined value of all taxable, exempt, and export supplies, excluding GST and any inward supplies under RCM.

GST Audit Checklist We will ensure thorough inspection of

Registration Compliance: This verification will include, if needed, any GST registration/business verticals and locations.

1. Invoicing & Documentation: It checks compliance for tax invoices, bills of supply, receipt vouchers, and e-way bills against the GST requirements.
2. Supply Classification & Valuation: The proper categorization of supplies as taxable, exempt, export, zero-rated, and reverse charge.
3. Input Tax Credit Review: Verification of ITC claims, reversals, restricted credits, and reconciliation of ITC with vendor invoices.
4. GST Returns & Payments: Filed returns, GSTR-9 to be reconciled with GSTR-1 and GSTR-3B, verification of payment of interest or late fee.
5. Reverse Charge Mechanism (RCM): Compliance check for RCM provisions relating to ITC claims.
6. Refunds and Credits: Review of refunds applied and documentation presented to claim refund.
7. Record Maintenance: Ensure all records, including invoices, returns, and inward and outward supply registers, are maintained under the requirements of the GST law.

Why My Startup Solution for GST Audit in Lucknow?

My Startup Solution is your compliance partner to be relied on in implementing GST, and we have a dedicated team in Lucknow with immense experience of GST audits for you. We help you realize tax-saving opportunities and make your compliance framework stronger. We take pride in our quick service, clarity in reporting, and actionable insights to support your business. Contact My Startup Solution today and book your GST audit with us for smooth navigation through GST requirements with ease and confidence.