GST services in India

The GST law requires audit of the monthly compliances by way of an audit attached to the Annual Return.  It is critical to for the taxpayers to start focusing on the audit of compliances under GST law and input and output reconciliations form a critical part of the GST audit certification. The audit of Annual return (also known as GST audit) lays the foundation for the first external verification/ assessment under the GST law. 

We, at VJM & Associates LLP believe in offering qualitative value added services encompassing a comprehensive review of all GST records along with our recommendations on strengthening internal controls for appropriate data entry, data recording, data analysis and data requirements for compliance.  

Know More about GST Audit

Similar to the other laws, there is a requirement for certain categories of taxpayers to undergo annual audit under GST.  As per Section 35(5) of the CGST Act read with rule 80(3) of the CGST Rules, “every registered taxpayer whose turnover exceeds INR 2 crores in a financial year is required to get the accounts audited by a practicing Chartered Accountant and submit a copy of the audited annual accounts and reconciliation statement in Form GSTR 9C.”

Accordingly, every taxpayer having turnover exceeding INR 2 crores is required to submit GSTR 9C duly certified by a practicing Chartered Accountant or a Cost Accountant along with GSTR 9.  This certification is required once for every financial year.

In addition to the above, the GST law also has provisions for a department audit/ special audit by a practicing Chartered Accountant or Cost Accountant on a need basis.

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  1. Reconciliation between books and monthly/ quarterly returns (GSTR 1)
  2. Valuation of supply
  3. Sales returns
  4. Classification and rate of tax applicable
  5. Export of goods and services
  6. Sale of Capital assets
    1. Availing Eligible Input: Assist in maximization of credit availment under GST law.
    2. Payment to supplier: Verification of payments made to suppliers vis-à-vis claim of Input Tax Credit
    3. Reconciliation between books and returns: Verification of ITC claimed as per books and the GST monthly/ quarterly returns (Input claimed in GSTR 3B)
    4. Reversals of excess ITC and interest: Analysis of ineligible transactions and reversal of excess ITC claimed and computation of interest.
    5. ITC reversal: Reversal of ITC on sample sales, wastage etc. and exceptional events like damages, fire accidents etc.
    6. Reverse Charge Mechanism: Scrutinizing ledgers and verification of payment of GST under Reverse Charge Mechanism on taxable transactions.
  1. Filing returns: Compliance regarding timing of filing returns and implication of delay
  2. Interest and Penalty: Computation of interest and penalty in case of delays in tax payment
  3. Place and time of supply: Determination of the place and time of supply of goods and services under GST law
  4. Notifications and circulars: Identification of applicable notifications and circulars to the business of client
  1. Ledger scrutiny: Analysis of transactions for identification of eligible ITC and payment of tax on output liability
  2. Process controls and compliance: Review of the organization structure established for ensuring GST compliance.
  3. Maintenance of records: Review of adequacy and efficacy of records maintained under GST.
  4. Job work: Review internal control mechanism in case of Job Work, Sale on approval basis, Sales returns etc.
  • Input Tax Credit
    • Monthly return comparisons with books
    • ITC mismatches, reversals and reclaimed during the year
  • Output Liability
    • Monthly return comparisons with books
    • Reconciliation between value of supplies as per annual return with audited financial statement
    • Percentage of supplies from RCM
  • Internal Control
    • Vendor wise compliance rating
    • Recommendations on efficiency and effectiveness of internal control
  • Compliance
    • Transitional Compliance
    • Cost of non -compliance matrix
    • Annual Return in GSTR Form 9C
    • Other statements and reports as mandated timely by GST law

What they say about us

We give full credit to VJM for streamlining our company’s GST compliance. Their dedicated team of learned professionals have a focussed approach & exceptional clarity when it comes to any questions pertaining to GST. I can say, without their support, it would not have been possible for us to sail past the initial turbulent period when GST was launched. Our best wishes always with them !
Siddharth Gupta - CraftHome
Siddharth Gupta
CEO, Craft Home, Export House

GST Services

Know more about our complete portfolio of GST Services.

GST Audit

Professional GST audit needs a strong mechanism and digital environment through the examination of the records to ensure full compliance of tax rules. At VJM & Associates LLP, we offer error-free GST audit services after thoroughly checking the important audit check-points. ​

Refund under GST​

Interested in filling for GST refunds? Contact us to identify that you are eligible for a GST refund. We will help you file your claim through online GST Refund Form RFD-01 or from customs department via IGST route. Don’t miss the timeline. Claim it through us within the relevant date.​

GST Advisiory​

Our GST advisory services focus on the applicability of taxes on various transactions conducted or proposed to be undertaken and the overall tax performances of our clients, creating value and greater opportunities for developing a more strategic approach to tax.

Representation under GST

Your search for expert in GST for the representation under GST comes to an end as soon as you reach VJM & Associates LLP. We have years of experience and exposure for representation to authorities at various levels. We have expertise in solving various issues related to a dispute between tax authorities and supplier under the GST. ​

GST Outsourcing

If you are looking for a trustworthy partner or a reliable vendor for outsourcing your GST tasks, we will be the right fit for you. We keep a world-class pool of professional GST consultants to provide you with a complete solution, covering almost all areas of GST, bookkeeping and accounting tasks, GST returns etc.

Accounting & Reporting

We are the market leaders to deliver a higher-quality accounting and reporting solution to our clients more quickly and efficiently in an environment of technological change, digital demonstration, could computing, online bookkeeping and GST filing, and increased regulatory changes and scrutinizes.

Why Choose Us

Client Centric Approach

Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.

Quick Turnaround

We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.

Team Work

We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.

Open Communications

We believe that open communication is the core principle in order to demonstrate trust, build long lasting and valuable relationships with clientele. We are committed to ensuring transparency in communication, service offerings and delivery.

Driving quality in delivery

Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.

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