• Audit as Boon
• Timely compliance of statutory returns.
• Corrective action can be taken immediately.
• Timely audit avoids future penalties and interest.
• Avoid cost for tax payer by recovery of proper tax from customers • Audit as Bane
• Complex procedural compliance under GST
• Lack of clarity of law in many situations
• Error in Reco. for turnover declared based on Circular dated 29.12.2017 with the accounts maintained
• Transitional issues, etc.