The Institute of Cost Accountants of India releases guidance note on GST Audit

The Institute of Cost Accountants of India releases guidance note on GST Audit : Tax Research Department of The Institute of Cost Accountants of India has prepared this Guidance Note on GST Audit which will be of immense benefit to the members of the Institute, accounting professionals and tax payers at large. A panel of eminent experts in the field have prepared this Guidance Note and tried their best to make it a comprehensive one.

The Institute of Cost Accountants of India releases guidance note on GST Audit

Click here to download the guidance note This booklet contains background on introduction of GST in India, GST Audit Guidelines, Significant Concepts and Definitions under GST, Input Tax credit, Reverse Charge Mechanism, Anti- Profiteering Rules, GST Audit Formats etc. The subject matter in the book has been segregated in different chapters. The purpose of this Guidance Note is to outline the principles and policies of audits conducted under the Goods and Services Tax Laws. Guidelines provided herein are intended to ensure that the audits are carried out in a uniform and comprehensive manner, adhering to the stipulated principles and policies and prevailing laws of the land. We are confident that this guidance note will support to achieve the true objective of laws and provisions framed under the Act and will be referred by stakeholders for various assistance. Further, we would like to acknowledge the sincere efforts put by our Resource persons, CMA Dr. Sanjay Bhargave, CMA Mrityunjay Acharjee, CMAT K Jagannathan, CMA Anil Sharma, CMA Amit Sarkar, CMA B M Gupta and CMA S P Padhi. Without their sincere efforts, this accomplishment could not have been possible. The suggestions and comments of the stakeholders are welcomed to improvise the contents and formats.

Tax Research Department

The Institute of Cost Accountants of India

On this 14th Day of July 2018

Click here to download the guidance note