The Audit is required for any GST-registered taxable person whose turnover exceeds the prescribed limit during a fiscal year. The current notified GST Rules state that the turnover limit cannot exceed Rs 2 crore. These businesses will need to have their books of accounts audited either by a chartered accountant, or a cost accountant.
‘Assistant Commissioner’ may initiate the special audit, considering the nature and complexity of the case and interest of revenue. If he is of the opinion during any stage of scrutiny/ inquiry/investigation that the value has not been correctly declared or the wrong credit has been availed then a special audit can be initiated.