What is a GST Suvidha Providers System Audit?

GST Service Providers are the special entities who have been authorized to develop a platform to enable the taxpayer to do the GST compliances. 

All GST system functionalities like registration, return filing, payment of taxes, uploading of invoices will be available through APIs. All return filings under GST will be managed by GSTN.

Applicability

  1. GST Suvidha Providers must get their systems audited as per ISO standards before they start feeding data into the network.
  2. GSPs also must have their systems audited as per the prevailing ISO standard on security from one of the auditors on the panel of CERT-IN before they connect with and start pushing data into the GST System.

Objective

The objectives of Audits of GST Service Providers:

  1. To emphasize on the identified risk areas and to scrutinize the records maintained in the normal course of business.
  2. To identify the unexplored compliance verification.
  3. To ensure smooth functioning as the country is gearing up for an overhaul of its indirect tax regime and thousands of businesses will upload their purchase-sale invoices on the GST Network (GSTN) daily.

Approach

Our approach has been covered in a 4-phases. These include: 

Phase 1: Audit Planning
Planning and preparation of the audit scope and objectives. 

Phase 2: Risk Assessment and Business Process Analysis
Assessment, measuring, managing, and controlling IT-related risks, thus enhancing the reliability of processes and the entire information system. 

Phase 3: Audit Performance (Compliance and System Review) 
Assessment of controls over critical system platforms, network and physical components, IT infrastructure supporting relevant business processes.

Phase 4: Reporting
Report audit findings, conclusions, and recommendations of the audit in terms of conformance, non-conformance, and opportunities to improve. 

      Why CyberSRC®?

      Established in January 2018, CyberSRC Consultancy offers the full machination of cyber security services ranging from threat intelligence, VMS to general advisory services in areas pertaining to Cyber security such as vulnerability attacks, compliance, and cyber security regulations, and laws. We are into system audits such as ISNP Audits, NBFC Audits, UCB Audits, PPI Audits, and SEBI Audits. We provide our solutions with better accountability. We are a certified assurance firm. We are an ISO 27001 certified organization, backed by a very diverse and dynamic team which have a combined experience.