Special Audit Under GST
Any officer not below the rank of Assistant Commissioner may demand an audit under Section 66 of the CGST Act. This he can do if he believes during the time of scrutiny that:
- the value of supply is not accurately declared or
- input tax credit availed by the registered taxpayer exceeds the credit actually due
Thus, the assessing authority takes the approval of the commissioner to undertake such an audit. Hence, on such approval, the assessing authority guides the registered person to get the books audited by a Chartered Accountant or a Cost Accountant. And the Assistant Commissioner himself suggests this accountant.
Further, the Commissioner issues such a direction in Form GST ADT-03 to the registered person. Thus, the Chartered Accountant or Cost Accountant selected by the officer then submits the Report of Audit duly signed and certified by him to the Assistant Commissioner. This is done within a period of 90 days. And this period can be extended by another 90 days if there is a delay.
Furthermore, the Officer can demand such an audit even if the accounts of the registered person have been audited under any other law. These laws may include The Company Act 2013 and Income Tax Act 1961.