A Practical Guide to GST Audits and Certification

The fifth edition of this book has been written with a perspective to enable the taxpayers to ensure compliance with the applicable provisions of GST related to filing of annual returns and self-certified Form GSTR-9C. The vast experience of the four authors totaling about one hundred years in consulting, adjudicating, judging and implementation of indirect taxes would immensely help the professionals implement GST provisions and conduct of audit in an easier way while providing value to their clients/employers.

Key Features:

Includes practical tables giving Step by Step approach with internal control questionnaires, checklists, templates, Good accounting practices, review program and reconciliation statements for:
–Filing annual return with checklist and enabling formats
–Audit certification

Detailed analysis of reporting comments, remarks and qualifications in Part B of GSTR 9C along with exhaustive list of sample observations, remarks to be reported which would be relevant till FY 2019-20

Detailed discussion on various other key reconciliations including ITC, outward supplies, etc.

Extensive list of common errors to be avoided in GST while doing preparation for audit.

Coverage of key reconciliations viz., GSTR 2A to 3B, GSTR 1 to 3B, etc.

Extensive discussion on professional approach to GST audit using the internal control questionnaire and sample audit program for enabling taxpayers in filing GSTR 9C form.

Insights on key year-end activities & relationship between GSTR 1, GSTR 3B & GSTR 9.

Covering important tools/techniques for optimization of tax, ITC, year-end actions, and some decisions in favour of taxpayers to avoid future disputes and adding value.

The book is divided into 6 parts as follows:

Part 1 – Overview of GST law and insights on good accounting practices, record maintenance and documentation to facilitate returns filing, reconciliation and professional opportunities from the perspective of GST Audit.
Part 2 – Background of the Annual returns, role of professionals and a detailed clause by clause analysis with Practical FAQ's for filing the Annual Returns in Form GSTR 9.
Part 3 - Background of the GST Audit, role of professionals and a detailed clause by clause analysis with practical FAQ's for filing the Reconciliation statement in Form GSTR 9C.
Part 4 – Checklists, formats, ICQ's, templates and practical methodology of conducting GST Audit [verification of documents/transactions after evaluation of internal control, reconciliations with tips to mitigate demand, common errors to avoid.
Part 5 – Customs Audit, year-end action points for taxpayers, other GST certifications and Departmental Audit and some useful decisions.
Part 6 - Appendices containing the gist of important notifications, guidance notes, standards, forms of audit under GST, and important templates for ready reference of professionals.