All GST no. Holder have to file monthly, quarterly and annual GST Returns based on the type of business. Under GST, a registered dealer has to file GST returns that include:

• Purchases

• Sales

• Output GST (On sales)

• Input tax credit (GST paid on purchases)

• In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

• The Specialisation of the system is that one has to manually enter details of one monthly return – GSTR-1. The other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.

NOTE :

In the interim budget announcement, Finance minister has clearly stated, that now the returns will be filed on quarterly basis. Though no official notification has come till march 31st 2019.

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to make sure how far the financial statements as well as non-financial disclosures present a true and fair view of the concern.
Under the section 183(3) of the company Act 1994:Company Audit means “The balance sheet and profit and loss account or income or expenditure account, cashflow statement of a company shall be caused to be auditedby the auditor of the company as in the companies act provided. and the auditors report shall be attached there to and the report shall be read before the company in General meeting”.