A supplier is required to obtain registration in every state or union territory from where supplies are made if the taxable value of such supplies exceeds the prescribed threshold limit. Upon registration under GST, a 15-digit unique Goods and Services Tax Identification Number (GSTIN) is issued to the supplier, and a registration certificate containing this GSTIN is made available through the GSTN common portal.
Every registered person, regardless of their business structure—be it a proprietorship, partnership firm, LLP, AOP, HUF, or company—must comply with various statutory obligations on a monthly, quarterly, or annual basis, as applicable. Failure to file returns within the prescribed timelines may lead to the imposition of interest, late fees, and penalties.
We also offer expert advisory services related to the classification of goods or services, determination of HSN codes, place of supply, applicable tax rates, and other specific issues as per individual business requirements.
Certifications
A practicing Chartered Accountant is required to certify various forms under GST, including those related to reconciliation statements during GST audits, declarations in refund applications, and declarations for availing input tax credit when the claimed amount exceeds the prescribed limit under the law.
Annual Return
Registered taxpayers under GST are mandated to file an annual return once every financial year, within the due date prescribed by law. The return includes comprehensive details of the supplies made and received during the year under various tax heads—CGST, SGST, and IGST. It serves as a consolidated summary of all information furnished in the monthly or quarterly returns throughout the year. The different types of annual returns are summarized below.
| Form | To be filed by |
|---|---|
| GSTR-9 | Regular taxpayers |
| GSTR-9 A | Persons registered under composition scheme |
| GSTR-9 B | E-commerce operator |
GST Audit
The purpose of a GST Audit is to verify the accuracy of turnover declared, taxes paid, refunds claimed, and input tax credit availed, while ensuring overall compliance with the provisions of the GST Act and related rules. The government mandates the submission of an audited statement of accounts and a reconciliation statement for all registered persons with an annual turnover exceeding ₹2 crores. This must be furnished on or before 31st December following the end of the relevant financial year, and applies equally to voluntarily registered persons.
Types of GST Audits
Annual Audit
Audit by Tax Authorities
Special Audit
The Annual Audit under GST involves furnishing a reconciliation statement in Form GSTR-9C, duly certified by a Chartered Accountant (CA) or Cost Accountant (CWA). Any registered person whose annual turnover exceeds ₹2 crores during a financial year must reconcile the figures declared in their annual return (GSTR-9) with those in their audited financial statements using Form GSTR-9C.
Such taxpayers are also required to get their accounts audited and submit a copy of the audited annual accounts, along with the reconciliation statement showing the tax paid and tax payable as per audited records.
As per Section 35(5) read with Section 44(2) of the CGST/SGST Act and the relevant rules, the audit must be conducted by a Chartered Accountant or Cost Accountant for the specified class of registered persons.
A G M L & Associates provides a comprehensive range of services under GST — from advisory on specific transactions to compliance management and audits — ensuring complete support under the Goods and Services Tax regime as well as legacy tax laws.
