I have prepared the scope of the management as well as GST auditor responsibilities in GST audit under the GST laws. GST auditor’s responsibility is to audit the particulars included in the GSTR 9C to ensure that they are free of any material mis-statement.
Legal provisions of GST Annual Returns In order to understand the gamut of the GST Annual Returns and its requirement, it would be relevant for us to understand the legal provisions relevant for GST Annual Returns. Two important provisions which are relevant and important in this context are Section 35(5) and Section 44(1) of CGST Act, 2017.
Introduction to Audit Goods and Services Tax was introduced to consolidate most of the indirect taxes and also to increase the tax base with emphasis on compliance. At the same time, thrust was given to self-assessment processes whereby the tax payers are required to assess their tax liability and pay taxes. Audit under GST by […]
Indirect Taxes Updates GST, Customs, Excise, Service Tax & VAT – Month – November 2018 A. Amendment in Goods & Services Tax for the Month of November 2018 ♦ CBIC extended due date for filing Form GSTR-7 till 31st January 2019 CBIC has extended time limit for furnishing return by a registered person required to […]
There is sufficient cause and need for the extension of filing of Annual Forms GSTR-9, 9A, 9B and 9C for a reasonable period of time to give justice to the correctness of returns considering the need for reconciliations state-wise.
The present article helps to list down some of the important points, like GST registration certificate, verification of invoice prepared under GST law, input tax credit availment as per GST law and job work transaction, to be taken care of while conducting the GST audit.
The encashment of leave is allowed during continuance of the employment as well as on leaving the job as part of full and final settlement. Income tax laws also give concessional treatment for encashment of such paid leaves by employees.
Introduction to Annual Return under GST Ever since GST came into prominence with effect from 1st July, 2017, there were several anticipations for the GST audit and its reconciliation with the annual return, including linkage of the same with the erstwhile VAT regime or the Income Tax Return/Tax Audit Report. Some of the additions in […]
CAS, Surat recommend an exemplary penalty u/s 24 of CA Act, 1949 (Penalty for falsely claiming to be a member, etc.) as follows so that no one should ever think of falsely claiming / representing as CA:
Legal Provisions & Applicability of Annual Return under GST As per Section 44(1) of CGST Act 2017, taxable persons are required to furnish the Annual Return for every financial year electronically. Further, taxable persons whose turnover exceeds Rs. 2 Crores during the financial year, are required to get their accounts audited under Section 35(5) of […]
