GST audit applicability requires audited accounts and reconciliation to align declared supplies with audited financial statements.
The GST audit framework mandates audit by a chartered or cost accountant and submission of audited annual accounts with a reconciliation statement in the prescribed form, reconciling supplies declared in returns with audited financial statements; auditors must perform detailed reconciliations of outward and inward supplies, ITC, ledgers and returns, explain unreconciled differences and recommend liabilities arising from non-reconciliation. (AI Summary)