GST Audit Checklist, Rules & Applicability
- Blog|GST & Customs|
- 3 Min Read
- By Taxmann
- Last Updated on 2 December, 2022
When a taxpayer has the registration under GST, all the records maintained by him would pass through GST audit. Here, the main goal is to check the veracity of the declaration of information in records and know their compliance with the GST rules.
1. GST Audit Applicability
2. Important Rules of GST Audit
As per the GST audit checklist, stricter rules are now in force that makes it absolutely necessary to make analysis of the data gaps between GST returns. It has strictly asked the business houses to conduct periodic checks and install internal controls. This would for sure do away with the data gaps and make sure the necessary compliance with the GST rules.
Taxmann’s GST Audit and Annual Return – F.Y. 2019-20 caters to handle the preparation and filing of GSTR 9, GSTR 9A/4, and GSTR 9C for FY 2019-20 which is currently supposed to be filed till 28th February 2021. This book serves as a ready referencer for all the professionals like CA and their Articles, CS, CWA, Advocates, etc. in handling audit and annual return assignments.
3. Mandatory Internal Audits
GST authorities have now begun issuing show-cause notices to business houses for strict compliance of GST norms. Internal audit of the GST records could bring succor to a business in order to run check on the operating efficacy of internal financial controls and know important areas of risk and finally adopt necessary measures to minimize risks.
4. GST Audit Checklist
The following are the mandatory GST Audit checklist that requires strict compliance:
4.1 Checking of GSTR 3B in relation to GSTR 1 and GSTR 2A.
a) Interest and penalties in GST Act:
b) Amendment in GSTR:
4.2 Checking Particulars of Invoice
It is very clear that there are specific rules related to the details in the invoices. If the format of the invoice varies, he would advise the management to make amendment of the invoice and include the requirements of the GST rules.
4.3 Reversal of Input tax credit for non-payment in 180 days
4.4 Reviewing e-way bill and matching with invoices
- Whenever it is necessary for business, e-way bill is quite unavoidable.
- And details given in the e-way bill need to match with invoice.
5. Cross-checking the stock pending with job-workers on 30th June, 2017
As it is mandatory that goods lying with job workers on 30th June 2017 need to get received within a period of one year. The capital goods lying with job workers require to be brought back before 30th June 2019 (within a period of two years).
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