CHECK LIST FOR AUDIT REPORT IN CONTEXT OF GST RETURN GSTR-1 Viz GSTR-3B
- Correct GSTN and address in original bill.
- GSTN of the Seller/ Buyer.
- Respected buyer/Seller also raised Debit/Credit Note.
- Make Reversal / Add back in Parties GSTR-1 or GSTR-3B.
- This allowed upto return of Sep., 2018.
- Make proper serial number against related Purchase Sales.
Part – B : REVERSAL OF BLOCKED CREDIT :
Part – C :REVERSAL OF ITC ON PAYMENTS NOT MADE TO SUPPLIER WITHIN 180 DAYS :
PArt D : PAYMENT :
Notification on GST GSTR-9C and 9D
Extract of the Letter No. IDTC/Letter/2018-19/13 Dated: 29th May 2018 is as follows:-
“In continuation to the letter no. IDTC/Letter/2018-19/09 dated 9th May, 2018, we are pleased to enclose the GST Audit Report (Form 9C) and Statement of Particulars (Form GSTR 9D) to be furnished along with the Report. These forms have been drafted keep in in mind the aspects of being simple, transparent, easy to comply, to bring awareness among the tax payers and at the same time protect the revenue for the Government. Further, we are submitting two versions of the Statement of Particulars, one is for the tax payer having turnover upto 10 crores; and other is for tax payer having turnover 10 crores and above.
The Institute has developed the aforesaid “GST Audit Formats” for the period ended on 31st March, 2018. We will provide a more comprehensive Form with additional compliances by the Assessee having turnover beyond Rs. 10 crores for the financial year 2018-19.
Sir, the draft Forms captures the information pertaining to the nature of transactions, turnovers and taxes which will provide the Government with an insight into the business practices adopted by the trade and industry, The said audit report read together with the annual return filed by the trade and industry should reflect a true and correct state of affairs of the business entities thus meeting the motto of ease of doing business and ease to comply with the GST provisions, It will not be out of place to mention, that several members of the profession have populated live data into these Forms and feedback has been received that Draft formats are not complex, considering the details that are required to be maintained / furnished under the GST Laws.
Considering this as first year of Audit, it is requested that the Audit Report may be finalised and published at the earliest providing the taxpayers and professionals adequate time for understanding the Audit Format and compliance of the same.
We would also like to inform your goodself that recently, ICAI has also drafted the Certificates to be issued by Professionals as well as the Annual Return Form 9/9A/9B for the Goods and Services Tax Network (GSTN).
We shall be glad to provide any further inputs as may be required and your office in case of any information may reach us at firstname.lastname@example.org or 0120-3045954. “