Practical Checklist For Initiating GST Audit – FORM GSTR -9C
DOCUMENTS LIST –
1. Signed Financial Statements
2. State wise financial statements, if required
3. GST User Id
4. GST Password
5. Monthly GSTR 3B
6. Monthly GSTR 1
7. Monthly GST Workings
8. Monthly ITC reversal workings along with final reversal
9. Transitional Credits Availed along with workings
10. Refund Claim filed along with workings
11. Refund Claim Orders received (If Any)
12. List of Advance Rulings applied (If Any)
13. Rate-wise Outward Supplies as required in Point 9 of Form GSTR-9C
Basic Working –
1. Whether the Certificate of Registration is prominently displayed at all locations where business was done?
2. Is GSTIN No. included along with the name of the business in all the displays?
3. Ensure that the GST tax invoice series is unique for each financial year (Rule 46(b) of CGST Rules, 2017)
4. Ensure Tax invoice is issued as per the provisions mentioned in Section 31 of the CGST Act 2017
5. Ensure that the assesse is issuing E Way bill wherever necessary.
6. Review sample invoices based on which credits claimed to study impact under GST with respect to taxations and credits.
Checklist –
1. List of outward supplies along with Nature, HSN/SAC and rate adopted.
2. Accordingly review any supplies made without consideration as per Schedule 1 of Section 7 i.e. Deemed Supply.
3. Make a list of all the Input services / Inputs on which the company takes Input Tax Credit.
4. In order to verify unadjusted Advances (received from Debtors) in case of goods or services or both, Verify each debtor ledger on monthly closing-balance basis. If balance is credit at month-end, it implies that the advance is unadjusted at the month-end.In respect of Goods, GST on Advances received was till 15th Nov. 2017.
5. In case the registered recipient has failed to make payment (full or part) to the registered supplier within a period of 180 days from the date of invoice, proportionate input tax credit from the date of such non- payment has to be reversed by the registered recipient.
6. Review Blocked Credit, if any, as per Section 17(5) availed by the Registered Person.
7. Ensure GST is properly charged on Reverse Charge Basis as per Section 9(3).
8. Ensure GST is properly charged on Reverse Charge Basis as per Section 9(4) till 12th Oct 2017.
9. Review the foreign currency payments to ascertain RCM liability and availment of ITC.
10. Verify unbilled revenue at the beginning of financial year from previous year’s Financial Statements as Income Receivable.
11. Also verify Indirect Incomes, which have been recognised due to AS-9, but billing of the same would be done in subsequent year ; so as to check Unbilled Revenue at the end of Financial Year.
12. Review of import documents, job work inward invoices, stock transfer inward invoices, etc. Some of these may not be accounted in the system as they are not financial entries but have an impact on ITC.
13. Verify that Valuation Rules (Section 15 & Rules thereof) are properly followed by the Registered Person. For this activity ; check expenses which are paid by recipient & not included in Invoice ; expenses which are paid by Supplier on the behalf of Recipient & recovered thereon from the Recipient afterwards. Credit entries in Expenses Ledger could be verified for the same.
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