GST

Maharashtra Issues Risk Thresholds and Review Framework for Financial Year 2023-24 GST Audits

Originally reported by Taxguru as: Goods and Services Tax | Maharashtra GST Audit Selection Guidelines for FY 2023-24 Prescribe Revenue-Risk Thresholds

3 Nov 2026, 7:25 pm IST · Xecute.finance News Desk

The crisp read

Maharashtra has established guidelines for selecting Goods and Services Tax audits for the financial year 2023-24. The framework involves desk reviews, specific revenue-risk thresholds, central approvals, and regulated audit visits. Finance professionals must review compliance records against these new risk parameters.

Xecute Impact Breakdown

For CAs

  • Tax professionals must evaluate client records against the new revenue-risk parameters established for the financial year 2023-24.
  • Practitioners should track official state tax notifications for upcoming procedural updates and ensure all filings for the financial year 2023-24 are complete.
  • Maintain transparent documentation to help mitigate unexpected compliance intervention risks for businesses operating in Maharashtra.

For businesses

  • Businesses must prepare for GST audits for the financial year 2023-24 selected through desk reviews, designated revenue-risk thresholds, central approval processes, and controlled audit visits.
  • Corporate compliance teams must evaluate accounts against structured risk thresholds and maintain transparent documentation.
  • Ensure all filings for the financial year 2023-24 are complete to mitigate unexpected compliance intervention risks in Maharashtra.

Deep dive - the full story

Maharashtra has introduced specific guidelines for choosing Goods and Services Tax (GST) audits for the financial year 2023-24. The selection mechanism relies on desk reviews, designated revenue-risk thresholds, central approval processes, and controlled audit visits. Under the previous approach, audit selections often followed broader parameters without explicit desk-review filters.

The updated framework introduces structured risk thresholds and central oversight to streamline how tax authorities identify business accounts for scrutiny during the financial year 2023-24. Tax professionals and corporate compliance teams must evaluate client records against these revenue-risk parameters and maintain transparent documentation.

Practitioners should track official state tax notifications for upcoming procedural updates and ensure all filings for the financial year 2023-24 are complete. Proper preparation helps mitigate unexpected compliance intervention risks for businesses operating in Maharashtra.

Source: taxguru.in

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