GST Audit - Financials

[Ethirajan Parthasarathy]

For GST audit covered cases, is it necessary to prepare audited financials for the period July'17 to Mar'18, in additions to audited financials for the whole year.

AI Summary

Are Additional Audited Financials Needed for GST Audit? Clarification on Period from July 2017 to March 2018 A query was raised regarding whether audited financials for the period from July 2017 to March 2018 are necessary in addition to the full-year audited financials for GST audit purposes. One response clarified that GST audits and financial audits are distinct. Another advised reconciling the nine months' input with form 2A and identifying unclaimed inputs from FY 2017-18 for the next fiscal year, while also reconciling sales with returns. It was noted that the GST annual return for FY 2017-18 must be filed by December 31, 2018.