GST Audit

GST Audit – Planning & Strategy to steer clear of audit

Goods and Services Tax - Audit, Investigation and Scrutiny as such sends shivers down the spine irrespective of well preparedness on the part of the assessees. This one aspect remains the same be it erstwhile IDT system – Excise, Service Tax, VAT, Customs, etc. or GST. GST is not the tested water, hence the apprehensions are more. The best action […]...

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GST Departmental Audit – Selection Parameters, Documents & Proactive Steps

Goods and Services Tax - GST Departmental Audit – Parameters For Selection, Documents That Can Be Asked For And Proactive Steps To Be Undertaken GST has been one of the biggest tax reforms of our country. July 2021 marked four years of GST Implementation and though it has stabilized to a large extent, the taxpayers are still grappling with some […]...

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No GST Audit under Finance Act, 2021 notified w.e.f. 01.08.2021

Goods and Services Tax - It is submitted that Section 35 and 44 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) has been amended by Finance Act, 2021. It is stated that Sections 2 to 88 of Finance Act, 2021 shall come into force on the 1st day of April, 2021 and Sections 108 to 123 […]...

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Know Knitty Gritty of GST Audit By Department – An Analysis

Goods and Services Tax - 1. Availing ITC: Crediting the ITC in Electronic Credit Ledger is availing ITC. Crediting ITC to credit ledger results in to ITC availed. 2. Utilization of ITC: Debiting the ITC in the Electronic Credit Ledger is utilization of ITC. Debiting ITC results in to ITC utilized. 3. Interest under section 50: Wrong credit taken i.e […]...

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GST Annual Return & Audit (GSTR 9 & GSTR 9C) For FY 2020-21

Goods and Services Tax - Hon’ble Finance Minister, Smt. Nirmala Sitharam in her Budget Speech on 1st day of February, 2021, omitted Section 35(5) and substituted Section 44 by Section 110 & 111 of the Finance Act, 2021 respectively in the CGST Act, 2017, so as to remove the mandatory requirement of furnishing a Reconciliation Statement (GSTR-9C) duly audite...

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CBIC needs to clarify on applicability of GST Audit for the year 2020-21

Goods and Services Tax - On 30 of July, 2021 the GST Council notified about the same through Notification No. 29/2021, as the date of applicability of Section 110 and 111 of the Finance Act, 2021 will be 1 of August, 2021. i.e. form 1 of August, 2021....

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GST Audit is not an avoidable compliance: ICAI President

Goods and Services Tax - Besides other points, ICAI president apprised that GST Audit is not an avoidable compliance. GST Audit by a Chartered Accountant ensures maker checker concept thereby detecting inconsistencies, lapses, errors and ambiguities, if any, in complying with the provisions of GST law....

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File GSTR-9 & GSTR-9C for FY 2019-20 by February 28, 2021

Goods and Services Tax - Attention GST Taxpayers whose Aggregate Annual Turnover for the FY 19-20 is more than Rs. 5 crore! File your Annual Return along with Reconciliation statement GSTR-9C before February 28, 2021. Attention GST Taxpayers whose aggregate annual turnover for the FY 19-20 is more than Rs. 2 crore! File Annual GSTR-9 Return before February 28, 20...

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Appointment of GST Auditors For Financial Year 2019-20 with NTCL

Goods and Services Tax - Tender Document For Appointment Of GST Auditors For The Financial Year 2019-20 with National Textile Corporation Limited (NTCL). NATIONAL TEXTILE CORPORATION LIMITED (A Govt. of India Undertaking) CIN No: U74899DL1968GOI004866 Core IV, SCOPE Complex, 7, Lodhi Road, New Delhi – 110003 Tel. No. 011- 24360101/Extn:2679, Fax No. 011- 243611...

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Empanelment for Special Audit with Delhi GST department

Goods and Services Tax - Expression of Interest (EOIs) For Empanelment of Chartered Accountants/Chartered Accountant firms/Cost Accountants/Cost Accountant firms for Special Audit with Department of Trade & Taxes, Govt. of NCT of Delhi. Request for Expression of Interest (EOIs) For Empanelment of Chartered Accountants/Chartered Accountant firms/Cost Accounta...

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Bombay HC dismisses plea for GSTR9/9C due date extension (Read order)

Goods and Services Tax Practitioners’ Association Vs. Union of India (Bombay High Court) - Goods and Services Tax Practitioners’ Association Vs. Union of India (Bombay High Court) On due consideration, we are not inclined to accede to the prayer made by the petitioners that too at this eleventh hour. It is not that the time-limit has not been extended. The initial due date of 31.12.2020...

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Consider representation to be filed for extension of GSTR9/9C due date: HC

All India Federation Of Tax Practitioners Vs. Union of India (Gauhati High Court) - All India Federation Of Tax Practitioners Vs. Union of India (Gauhati High Court) This petition is disposed of however, binding the respondent Union of India to take a decision on the representation to be filed on behalf of the petitioners, within one week of its filing. The respondent would also ad...

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HC allowed dept to conduct Service Tax Audit post GST implementation

Ess Infraproject Private Limited Vs Union of India (Bombay High Court) - Ess Infraproject Private Limited Vs Union of India (Bombay High Court) The issue of the saving of Rule 5A(2) of Service Tax Rules, 1992 on introduction of CGST Act, 2017 is an issue that requires detailed consideration. This would be appropriately done at the final hearing. Thus, granting of interim...

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TNGST: Exemption from filing annual GST return for FY 2020-21

Notification No. 15/2021-TNGST- PP2/GST-15/11/2021 - (18/11/2021) - TNGST Commissioner exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year....

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Procedure to be followed in scrutiny of GST returns & Action

Circular No 7/2021-KGST - (07/11/2021) - The proper officer may scrutinize the returns and related particulars furnished by a registered person to verify the correctness of the returns filed. Specific instances have come to the notice wherein proper procedures have apparently not been followed during the scrutiny of returns and thenceforth...

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GST Proper officer functions scrutiny, assessment, detention, seizure, release & refund

Circular No.6/2021-KGST - (07/11/2021) - Presently, the scrutiny of annual returns for the year 2017-18 is being done. Since defect notices are given after a larger time span, the defects perpetually get accumulated. The dealers will find it challenging to remit the consequent taxes, penalties, and interest being substantially larger amoun...

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GSTR-9 filing exempted if turnover is upto Rs. 2 crs for FY 20-21

Notification No. 31/2021-Central Tax/ [G.S.R. 518(E)] - (30/07/2021) - Vide Notification No. 31/2021-Central Tax Dated : 30th July, 2021 CBIC exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year. This would ease compliance requirement of furnishing reconc...

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CBIC amends Rule 80 Annual return, GSTR 9 Instructions & GSTR 9C

Notification No. 30/2021–Central Tax/[G.S.R. 517(E)] - (30/07/2021) - CBIC has vide Notification No. 30/2021–Central Tax | Dated 30th July, 2021 amended Rule 80 related to Annual GST Return, It further amended Instructions related to GSTR 9 and also amended Form GSTR 9C. The existing Rule 80 replaced for making the requisite amendments in Form GSTR-9 & Form GSTR...

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Recent Posts in "GST Audit"

TNGST: Exemption from filing annual GST return for FY 2020-21

Notification No. 15/2021-TNGST- PP2/GST-15/11/2021 18/11/2021

TNGST Commissioner exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year....

Read More

Procedure to be followed in scrutiny of GST returns & Action

Circular No 7/2021-KGST 07/11/2021

The proper officer may scrutinize the returns and related particulars furnished by a registered person to verify the correctness of the returns filed. Specific instances have come to the notice wherein proper procedures have apparently not been followed during the scrutiny of returns and thenceforth actions....

Read More

GST Proper officer functions scrutiny, assessment, detention, seizure, release & refund

Circular No.6/2021-KGST 07/11/2021

Presently, the scrutiny of annual returns for the year 2017-18 is being done. Since defect notices are given after a larger time span, the defects perpetually get accumulated. The dealers will find it challenging to remit the consequent taxes, penalties, and interest being substantially larger amounts. The tax compliance mechanism will th...

Read More

GST Audit – Planning & Strategy to steer clear of audit

Audit, Investigation and Scrutiny as such sends shivers down the spine irrespective of well preparedness on the part of the assessees. This one aspect remains the same be it erstwhile IDT system – Excise, Service Tax, VAT, Customs, etc. or GST. GST is not the tested water, hence the apprehensions are more. The best action […]...

Read More

GST Departmental Audit – Selection Parameters, Documents & Proactive Steps

GST Departmental Audit – Parameters For Selection, Documents That Can Be Asked For And Proactive Steps To Be Undertaken GST has been one of the biggest tax reforms of our country. July 2021 marked four years of GST Implementation and though it has stabilized to a large extent, the taxpayers are still grappling with some […]...

Read More

CBIC needs to clarify on applicability of GST Audit for the year 2020-21

On 30 of July, 2021 the GST Council notified about the same through Notification No. 29/2021, as the date of applicability of Section 110 and 111 of the Finance Act, 2021 will be 1 of August, 2021. i.e. form 1 of August, 2021....

Read More

No GST Audit under Finance Act, 2021 notified w.e.f. 01.08.2021

It is submitted that Section 35 and 44 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) has been amended by Finance Act, 2021. It is stated that Sections 2 to 88 of Finance Act, 2021 shall come into force on the 1st day of April, 2021 and Sections 108 to 123 […]...

Read More

Know Knitty Gritty of GST Audit By Department – An Analysis

1. Availing ITC: Crediting the ITC in Electronic Credit Ledger is availing ITC. Crediting ITC to credit ledger results in to ITC availed. 2. Utilization of ITC: Debiting the ITC in the Electronic Credit Ledger is utilization of ITC. Debiting ITC results in to ITC utilized. 3. Interest under section 50: Wrong credit taken i.e […]...

Read More

GST Annual Return & Audit (GSTR 9 & GSTR 9C) For FY 2020-21

Hon’ble Finance Minister, Smt. Nirmala Sitharam in her Budget Speech on 1st day of February, 2021, omitted Section 35(5) and substituted Section 44 by Section 110 & 111 of the Finance Act, 2021 respectively in the CGST Act, 2017, so as to remove the mandatory requirement of furnishing a Reconciliation Statement (GSTR-9C) duly audite...

Read More

GST Audit under Section 35(5) scrapped – What does it mean ?

GST Audit scrapped section 35(5) from GST Act 2017 OMITTED /New Provisions for Section 44 inserted Under GST, the compliance obligations under section 35(5) from GST Act has been removed to allow self-certification. Section 35 of the Central Goods and Services Tax Act Sub Section (5) shall be omitted. Before removal of Section 35(5) it [&...

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