Financial Analysis and Reporting of Individual Tax and GST Audit

Jain, Apeksha

doi:https://doi.org/10.55041/ijcope.v2i10.098

Volume 02, Issue 10

Published on: October 2026

FINANCIAL ANALYSIS AND REPORTING OF INDIVIDUAL TAX AND GST AUDIT

Apeksha Jain

Dr. Sanjay Asati

School of Business, Indira University, Pune, Maharashtra, India – 411033

DOI:https://doi.org/10.55041/ijcope.v2i10.098

Article Status

Plagiarism Passed Peer Reviewed Open Access

Available Documents

Download PDF Review Report

Abstract

This study examines how accounting records, Goods and Services Tax (GST) reconciliation, individual income-tax information, and pre-audit verification are connected in practical professional work. Based on a 60-day On-the-Job Training (OJT) programme, a descriptive case-study approach was used, combining supervised OJT observations, anonymised work records, and selected client-level cases. Three anonymised cases were analysed: Case 1 identified a ₹23,000 difference between book Input Tax Credit (ITC) and GSTR-2B ITC; Case 2 revealed ₹42,000 in capital gains and ₹12,000 in bank interest through Annual Information Statement (AIS) / Taxpayer Information Summary (TIS) review; and Case 3 identified an opening-balance mismatch, negative stock, and an initial Gross Profit (GP) ratio drop to 11.5% during pre-audit review (normalised to 17.2% after corrections). Supported by a review of 20 recent open-access academic publications and official guidance (2021–2026), the study proposes an integrated review framework linking accounting accuracy, digital reconciliation, tax verification, and final audit review.

Keywords— Accounting, GST, ITC Reconciliation, AIS/TIS, Tax Audit, Digital Tax Compliance.

How to Cite this Paper

Jain, A. (2026). Financial Analysis and Reporting of Individual Tax and GST Audit. International Journal of Creative and Open Research in Engineering and Management, <i>02</i>(10), 1-9. https://doi.org/10.55041/ijcope.v2i10.098

Jain, Apeksha. "Financial Analysis and Reporting of Individual Tax and GST Audit." International Journal of Creative and Open Research in Engineering and Management, vol. 02, no. 10, 2026, pp. 1-9. doi:https://doi.org/10.55041/ijcope.v2i10.098.

Jain, Apeksha. "Financial Analysis and Reporting of Individual Tax and GST Audit." International Journal of Creative and Open Research in Engineering and Management 02, no. 10 (2026): 1-9. https://doi.org/https://doi.org/10.55041/ijcope.v2i10.098.

Search & Index

References

[1]     T.-M. Choi, S. W. Wallace, and Y. Wang, “Resilient AI-powered supply chains in the postpandemic era,” Int. J. Prod. Econ., vol. 255, Art. no. 108702, 2023, doi: 10.1016/j.ijpe.2022.108702.

[2]     “Reaching the last mile: Digitalization of tax administration and VAT compliance at the retail stage,” Inf. Econ. Policy, vol. 72, Art. no. 101151, 2026, doi: 10.1016/j.infoecopol.2025.101151.

[3]     Goods and Services Tax Network (GSTN), “Form GSTR-2B advisory and guidance,” Government of India, 2026. [Online]. Available: https://www.gst.gov.in

[4]     Income Tax Department, “Annual Information Statement (AIS) & Taxpayer Information Summary (TIS) handbook,” Government of India, 2026. [Online]. Available: https://www.incometax.gov.in

[5]     Institute of Chartered Accountants of India (ICAI), Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2026). ICAI Publications, 2026. [Online]. Available: https://www.icai.org

[6]     D. Mehta, H. Joshi, and M. Shah, “Audit trail mandates and electronic record-keeping: Evidence from professional accounting firms,” Account. Horizons, vol. 38, no. 3, pp. 89–108, 2024, doi: 10.2308/HORIZONS-2023-019.

[7]     Central Board of Direct Taxes (CBDT), “Standard operating procedure for AIS discrepancy verification,” Ministry of Finance, Government of India, 2025. [Online]. Available: https://incometaxindia.gov.in

[8]     “Digital transformation in accounting: Elevating effectiveness across accounting, auditing, reporting and regulatory compliance,” J. Account. Organ. Change, vol. 22, no. 3, pp. 579–607, 2026, doi: 10.1108/JAOC-01-2024-0039.

[9]     D. Zhang, C. S. Tang, Y. Chen, and L. Qian, “Digital twins and IoT for real-time monitoring and control of supply chains: A framework and research agenda,” Comput. Ind. Eng., vol. 165, Art. no. 107937, 2022, doi: 10.1016/j.cie.2022.107937.

[10]   Y. Wang and X. Liu, “Enterprise digital transformation and financial reporting quality: Empirical evidence from listed firms,” J. Corp. Finance, vol. 84, Art. no. 102510, 2024, doi: 10.1016/j.jcorpfin.2023.102510.

Ethical Compliance & Review Process

•All submissions are screened under plagiarism detection.
•Review follows editorial policy.
•Authors retain copyright.
•Peer Review Type: Double-Blind Peer Review
•Published on: Oct 16 2026

CCBYNC

This article is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. You are free to share and adapt this work for non-commercial purposes with proper attribution.

View License

Back to Volume 02, Issue 10 View All Issues Next Article

← Previous Article

Factors Influencing B2B Client Acquisition in Recruitment Consulting: An Exploratory Study

Next Article →

Financial Operations and Solar-Loan Facilitation: A Descriptive Case Study of a Solar Enterprise in Maharashtra