Goods and Services Tax – GST – By: – Sandeep Rawat – Dated:- 26-11-2018 Last Replied Date:- 19-1-2019 – Area wise working / checklist for annual return and GST audit As this is first year of annual return and GST audit, registered person as well as professional are also in dilemma situation for fulfilling the compliance under GST law so that the requite information which is required in filing the annual return and GST audit could be prepared in time and order. In this regards I have prepared areas wise working plan/checklist which prescribed the requisite documents and actions for the annual return and GST audit. GST REGISTRATION CERTIFICATE Have you checked whether the Supplier has applied for New Registration or has he Migrated? Have you checked the registration details of: Registered Person, Business Verticals, Factory / Warehouse / Godown, ISD and in respect of other place of business? Whether GSTIN is displayed in Name Board viz., Godown /Branches / other places of business? Whet
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are issued as per the provisions of the GST law as per section 34? Whether Credit note/Debit Note is issued before 30th September of the Subsequent Financial Year? Have you checked correctness of Tax Invoice /Bill of supply with the appropriate Supply Register/ GSTR 1? Whether the Tax Invoice/Bill of supply is cancelled for genuine reasons, if any like Name of party /details where applicable? Whether any Invoice cum Bill of supply is raised for specific transactions? Whether the transport documents are maintained and verified? Whether any copies of Credit Note and Debit Note are raised otherwise than as specified in section 34? Whether the Delivery challan/E- way bill Register is maintained? Whether Series of documents issued as per clause 13 of GSTR 1 matches with Books of Account from July 2017 to March 2018? GOODS SENT TO JOB WORK Whether the conditions are fulfilled for claiming input tax credit on goods (including capital goods) sent for job work? Whether the Principal has sent g
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he registered person Have you checked Interstate supply as per section 7(5) of IGST Act 2017? Have you checked Intra State supply as per section 8 of IGST Act 2017? Whether the Zero-rated supply is verified as per the provisions of the law? Whether the supplies made by registered person falls within the meaning of Composite /non- composite/ Mixed supply? If yes, whether the same has been offered to tax as per section 8 of CGST Act? Have you checked for sale of capital goods and the GST charged and as to whether they are included in the returns filed ? Whether Interstate supply is regarded as Intra state supply and vice versa? Whether abatement provisions, if any, are applicable (like one third for land) is compiled with? Whether the transactions are correctly classified as supply of goods or supply of services? Have you checked the deemed supply as per schedule I? Are there any transactions wherein the goods sent for job work not received back is treated as supply? TIME OF SUPPLY Wheth
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if any? Have you reconciled tax collections with payments and transfer of the balance to appropriate accounts? Have you checked adjustment of tax set-off by relevant journal entries? Have you checked that input tax credit on capital goods is correctly availed? Whether Input Tax credit is reversed for the sale of capital goods as specified in GST law? Any Reversal of input tax credit for the goods sent for job work? Whether the recipient of supply has effected payment for such inward supply within 180 days from the date of Invoice? Whether input tax credit availed is debited to recoverable account for availing re-credit? Whether the supplier has availed both benefits of depreciation and input tax credit? Whether the documents (tax invoice/ debit note) on the basis on which input tax credit is claimed contains the mandatory details of recipient such as Name, GSTIN, Address and all other particulars as prescribed? Whether Input tax credit is reversed against the receipt of credit note Whe
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calculation of Turnover for allocating the input tax credit is as per the law? Whether the ISD invoice containing the relevant particulars is issued correctly as per the provisions of the law? CLASSIFICATIONS Whether the classification of goods/ services is in conformity with the Schedules / Notifications? Whether the HSN classification is verified to confirm the rate of tax on goods and services? Whether the HSN details for inward and outward supply are verified? Whether the SAC code/HSN code is as per the law? Whether the HSN /SAC classification is same as followed in erstwhile law if applicable? Is there any specific Advance Ruling applicable? Whether there has been any change in rate of tax during the period by way of amendment in rate of tax notification or exemption notification? RETURNS Whether the copies of GST returns filed by the registered person are reviewed? Whether reconciliation of GSTR 9 with GSTR1 and GSTR 3B is done? Whether interest which was due, has been paid whil
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? Whether reverse charge tax has been paid wrongly in lieu of CGST/SGST as IGST or vice versa? Whether corresponding input tax credit is availed on Reverse charge? Whether conditions of paying tax for RCM are fulfilled? VALUE OF SUPPLY Whether all the inclusions to the value of supply as per section 15 of the Act have been verified? Whether discount offered to customers (pre/ post supply) is not included in the value of supply after fulfilment of conditions under section 15(3) of the Act? Whether valuation rules have been applied as per the GST law? Whether the registered person has claimed any pure agent deduction as per Rule 33? In case the value of supply is inclusive of GST, whether the taxable value and tax amount is determined as per Rule 35 of CGST Rules, 2017? In case of exports, whether the rate of exchange of currency is determined as per Rule 34 of CGST Rules, 2017? Whether rate of tax charged for the supplies is as per the GST rate notifications issued/ amended from time to
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he conditions for location of recipient are fulfilled? Whether the wrong payment of tax i.e. IGST in lieu of SGST/CGST is claimed as refund? Whether the wrong payment of tax i.e. SGST/CGST in lieu of IGST is claimed as refund? Whether the Supply by SEZ to DTA is treated as inter-State subject to fulfilment of conditions? REFUND Whether the Supplier is eligible for Refund as per section 54? Whether the supplier has applied for Refund and whether it is sanctioned? Whether any Refund is Rejected or pending before the Authority? Whether the Refund is Re-credited to Electronic Credit Ledger? Whether the Manual /Electronic documents for Refund are verified? Whether the Accounting impacts are given for Refund applied, pending rejected or appealed? Whether any Refund is wrongly applied like input services/Capital goods credit for inverted duty structure? Whether Refund and Input Tax credit is claimed for the same transactions? Whether interest on delayed refund is receivable? INWARD SUPPLY Hav
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ach place of business? Whether books of accounts are maintained manually or electronically? If the same is maintained electronically, whether the software used complies with the requirements of the law? Whether the copies of Agreements/Agent agreement and other supporting documents are obtained? Whether the copies of Audited Financial Statements for each registration wise are obtained? Whether Transporter/Warehouse keeper has maintained the books of Account as per the law? Whether the Register E-way Bill/Delivery challan is maintained as per the law? Whether E- Way bills are used for valid purpose? Whether the register of ITC-01, ITC-02, ITC-03 and ITC 04 is maintained as per the GST law? Whether the supplier maintains the Cash/Bank Register for recording the transactions entity wise? Whether the books of Accounts maintained centralized or decentralized? GENERAL Whether the registered person has complied with Anti-Profiteering clause? Whether reliance is placed on any notifications / c
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