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of <h1>GST Audits Explained: Self-Assessment, Mandatory for Over 2 Crore Turnover, and Special Audit for Complex Cases.</h1> The GST regime relies on self-assessment, necessitating a robust audit mechanism to ensure compliance. There are three types of audits: a mandatory audit by a chartered or cost accountant for entities with a turnover exceeding two crore rupees, a regular audit by the Commissioner, and a Special Audit for complex cases. During a Special Audit, a registered person may be directed to have their records examined by a nominated accountant. This process, initiated by the Assistant Commissioner with the Commissioner's approval, aims to verify tax declarations and input credits. The audit expenses are covered by the Commissioner, and findings may lead to recovery actions if discrepancies are found.
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