STOCK DIFFERENCE IN AUDIT DEFECT

[SK Krishna]

Hello sirs/madams,

Why should the purchase turnover in stock value not be estimated based on GSTR - 2A figures and it has to be reconciled based on books of accounts.??

Why AS-2 has to be considered by the department authorities??

Pls post your views .Thank you🙏🏻

AI Summary

Books of account requirement: production of maintained stock records governs GST audit, not GSTR 2A reports.
The primary basis for valuing purchase turnover and stock in a GST audit is the taxpayer's maintained books of account, which must be produced on demand; GSTR 2A is a facilitative report with limited reliability and cannot substitute for reconciliation with statutory accounts. If stock valuation or maintenance is governed by an applicable accounting standard, those records must be produced to the department when required.