Goods and Services Tax : The article highlights that traditional GST audits fail to detect real-time discrepancies. Continuous audit models help businesses...
Goods and Services Tax : Courts held that audits exceeding prescribed timelines under GST law can invalidate subsequent proceedings. The ruling emphasizes ...
Goods and Services Tax : Courts have clarified that audit limitation begins when records are made available or audit is instituted, whichever is later. Ope...
Goods and Services Tax : This article explains each table of GSTR-9 and why it is crucial during GST audits and scrutiny. The key takeaway is that table-wi...
Goods and Services Tax : GST Audit Checklist Explained: Compliance Failures That Trigger Tax, ITC Reversal & Deemed Supplies; GST Audit Reveals ITC Ris...
CA, CS, CMA : UDIN generation now requires disclosure of preceding year audit details for specific audit categories. The update strengthens audi...
Goods and Services Tax : Expression of Interest for empanelment of Chartered/Cost Accountants for GST special audit under Section 66 of RGST/CGST Act, 2017...
Goods and Services Tax : U.P. Tax Bar Association requests Finance Minister for extension of GST Annual Return filing deadline due to ongoing proceedings a...
Goods and Services Tax : This model GST Audit Manual is intended to be developed as a comprehensive document which would be helpful for the audit officer...
Goods and Services Tax : Empanelment of Chartered Accountants/Chartered Accountant firms/Cost Accountants/Cost Accountant firms for Special Audit of GST re...
Goods and Services Tax : The Gujarat High Court has issued an interim order restraining final action on GST show-cause notices against Hubergroup India. Th...
Goods and Services Tax : HP High Court stays a GST audit against Saboo Tor Pvt. Ltd., citing the state's failure to issue the mandatory 15-day pre-audit no...
Goods and Services Tax : Delhi HC intervened in a GST dispute, staying proceedings against Dhruv Medicos Pvt. Ltd. The Court noted that the audit report wa...
Goods and Services Tax : The Calcutta High Court has restricted Central GST authorities from re-auditing periods already covered by a prior audit, citing S...
Goods and Services Tax : Punjab & Haryana High Court dismissed Mag Filter's petition challenging CGST audit for FY 2017-22 despite earlier proceedings unde...
Goods and Services Tax : West Bengal extends the GST audit completion deadline for the 2021-2022 period to August 22, 2025, due to delays in document submi...
Goods and Services Tax : West Bengal extends WBGST audit completion deadline to October 30, 2024, for cases commenced between July 1 and July 30, 2024....
Goods and Services Tax : Detailed guidelines for conducting GST audits in Maharashtra, including desk review, team formation, and audit monitoring for FY 2...
Goods and Services Tax : Government of Karnataka issued a circular outlining measures for effective GST audit and revenue optimization. The circular highli...
Goods and Services Tax : Extension of period for completion of Audit as per the proviso to sub-section (4) of section 65 of the WBGST Act, 2017 for the per...
TDS and TCS provisions have been introduced in GST vide notifications issued on 13-09-2018. Further reconciliation statement GSTR-9C has been introduced for registered persons having annual turnover more than 2 crore. This article attempts to analyse the notifications issued on these subjects
Hello friends greetings for the day, in the current article we will discuss about non availability of input tax credit under GST As per section 17 of CGST Act, there are certain conditions under which input tax credit is not available and we will discuss each and every scenario and exception thereto. As per Section […]
CBIC notifies that Section 51 of the CGST Act (provisions related to TDS) will come into force w.e.f 01.10.2018 vide Notification No. 50/2018 – Central Tax Dated: 13th September, 2018 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs New Delhi Notification No. 50/2018 – Central Tax Dated: […]
CBIC notifies FORM GSTR – 9C – Reconciliation Statement & Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit vide Notification No. 49/2018 – Central Tax Dated: 13th September, 2018. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes […]
Government of Punjab has notified that E-Way bill will not be required, Where the movement of Goods commences and terminates within the State of Punjab without crossing the boundaries of the State of Punjab and consignment value Not exceeds Rs. 1 Lakh. GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION Bhupindra Road, Patiala, Punjab. Notification […]
We know that GST audit u/s 35(5) of CGST Act 2017 is applicable for all registered dealer with turnover of > Rs 2 Crore. However by way of Central Goods and Services Tax (Amendment) Bill, 2018, the same has been exempted for Govt companies.
With a year passed on after the implementation of GST and also the 1st financial year ended on 31st March, 2018, time is to be ready for filing of GST Annual Return and conducting GST Audit along with Reconciliation with books of accounts. GST is a trust based taxation regime wherein the registered dealer is […]
Naturally As long as CA’s are number ONE, everybody will gun them. Being number one, the chartered accountants perfectly understand that many authorities are gunning on them though they are the partner to national building. Everyone is trying to latch Chartered accountants for third-party irregularity, noncompliance or fraud. A mania to create laws against the profession […]
In order to ensure compliance under GST law various measure has been taken by the government and GST audit is one of them. The GST Audit limit 2 crore has been set by the government, it means if a taxpayer having a turnover exceeding Rs. 2 crore in a financial, it will create an obligation for compulsory audit under GST . The registered person shall electronically file:
When Audit under GST is required? 1. If Turnover of the registered person crosses the threshold limit for audit under GST i.e. Rs. 2 cr in a financial year 2. An audit by Tax Authorities
