GST Audit Checklist for professionals
GST Audit Checklist for professionals: The taxpayers registered under GST have to file various returns including an annual return. As per th
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Nov 25, 2018 GST Audit Checklist for professionals:
The taxpayers registered under GST have to file various returns including an annual return. As per the provisions of GST registered taxpayer whose turnover during a financial year exceeds the Rs 2 crore is required to file GSTR 9C.
GSTR-9C is a statement of reconciliation between the Annual returns in GSTR 9 filed for an FY, first being 2017-18 and the figures as per Audited Annual Financial statements of the taxpayer. It has to be certified by a Chartered Accountant or Cost Accountantand the due date for filing GSTR 9C for FY 17-18 is 31st December 2018. Through this article we have tried to create a check list of documents required by professionals for conducting GST Annual Audit.
GST Audit Checklist for professionals
Preparation of Permanent File: All to be supplied in hard copy as well as soft copy
| S. No. | Description | Check |
| 1. | Auditors Appointment Letter | |
| 2. | GST Form REG-06 | |
| 3. | In case of company, records from MCA Portal | |
| 4. | Incorporation Certificate | |
| 5. | Authorisation from client for use of its GST login | |
| 6. | Authorisation from client for use of its E-way Bill Portal | |
| 7. | Copy of Letter of Undertaking | |
| 8. | List of all premises whether registered under GST or not. | |
| 9. | Details (including GSTIN) of the concerns closely held where the taxpayer is in position to control/hold more than 25% share. | |
| 10. | Details of the Agents/Sole-Selling Agent etc. (if any appointed by the taxpayer) | |
| 11. | Copy of PAN Card |
| S. No. | Description | Check |
| 1 | Balance Sheet, Profit and Loss Account along with all schedules. | |
| 2 | Tax Audit Report along with the Computation of Income for FY 2017-18 along with Form 26AS. | |
| 3 | List of Core/Non-Core amendments to GSTIN undertaken and the documents in relation thereto. | |
| 4 | List of Goods/Services supplied by the client along with HSN/SAC and GST Rates Charged by it. | |
| 5 | In case of multiple GSTIN under same company, bifurcation of Receipts and expenses on GSTIN wise. | |
| 6 | Sample of the Tax Invoices/Bill of Supply issued by the Client (Sampling Method may be adopted) | |
| 7 | Documentation in case of Reverse Charge Payment Self Invoice etc. | |
| 8 | Copy of GSTR 2 A along with GSTR 1 and GSTR 3B for each month under Audit | |
| 9 | Sample Invoices of Purchases made during the Financial year | |
| 10 | Bifurcation of Input Tax credit into ITC relating to Inputs/Input Services/Capital Goods | |
| 11 | Copy of ITC-04 in case of manufacturing concerns and goods sent to job worker and received back without payment of Tax. Please provide copies of delivery challans as issued. | |
| 12 | Copy of Refund Application (if any) filed during the financial Year (complete Set) | |
| 13 | Copy of the Refund Approval/Rejection as the case may be. | |
| 14 | Ledger accounts of all the receipts/expenses/ fixed assets/ all other heads reflected in Financial Statements (Only Soft Copies to be provided) | |
| 15 | Input ITC registers/ledgers rate wise of IGST/CGST/SGST etc. | |
| 16 | Copy of Electronic Credit Ledger and Electronic Cash Ledger | |
| 17 | List of Creditors/ Debtors outstanding for more than 180 days as on 31st March 2018 | |
| 18 | Details of any Advances received/ adjustment at the end of the financial year. | |
| 19 | List of all Debit/credit notes issued during the financial year (In case the number exceeds 25, soft copy may be provided) | |
| 20 | Discount Policy (if any). Complete details of the discounts received and discounts given by the entity. | |
| 21 | Copy of GST TRAN-01 (if any) filed for carry forward of Input Tax Credit from previous regime along with Earlier Returns for Quarter ending 30th June 2017. | |
| 22 | Copy of Registration taken as Casual Taxable Person (CTP) if any during the financial year along with the invoices issued under said CTP. | |
| 23 | In case of any import of goods/machinery copy of Bill of Entry along with all relevant documents. | |
| 24 | In case of export of goods, copy of all invoices along with Shipping Bill and other relevant documents | |
| 25 | In case of export of services, copy of Invoices along with the Foreign Inward Remittance Certificate (FIRCs ) and all other relevant documents. | |
| 26 | Copies of all the inspections/notices (if any) issued by the GST department and the replies submitted to them. |
This article has been written by Keshav R Garg. he can be contacted at below mentioned details.
Address: 3328, First Floor, Sector 27 D, Chandigarh, India 160 019
Phones: +91-172-461-3328, +91-98880-90008
E-Mail:[email protected]
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