hard20 pts · first answer countsgstsubstantive-testing

Input tax credit above GSTR-2B

The auditor finds that GST input tax credit claimed in GSTR-3B during the year is ₹12,00,000 more than the credit shown in GSTR-2B. What is the main audit concern and response?

A.No concern, because GSTR-2B is only advisoryB.Revenue is overstated; reduce salesC.Inventory is overstated; recount stockD.Possible overstated GST credit or understated tax liability; reconcile, test eligibility and supplier filings, and assess the need for a provision or contingent liability disclosure

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Input tax credit above GSTR-2B

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