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GST Audit in Jaipur

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GST Audit in Jaipur

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  1. GSTAudit GSľAuditundeísec13(2)ofCGSľ Act,2017isthepíocessofexaminationofíecoíds,íetuíns,and otheí documents maintained by a taxable peíson and also veíifying the completion of compliances within the timefíame allowed. ľhepuíposeistoveíifythecoííectnessoftuínoveídeclaíed,taxes paid, íefundclaimedandinputtax cíedit availed,andtoassessthecompliancewiththepíovisionsof GSľ. ľhis is a íeconciliationbetweentheGSľ íetuíns filedbyabusinessandthe booksof accounts maintained by them. ľhis Audit is mandatoíy foí all the taxpayeís having a tuínoveí of moíe them 2 cíoíesinanFY.ľhisAuditisdonebyaPíacticingCAoíaCostAccountant. LegalWindow píovidesthebestseívicesfoíGSľAuditinJaipuí. AdvantagesOfGSľAudit Recoídingofthecoííecttimeofsupply ľhevoluntaíyauditallowsíecoíding ofthecoííect time of supply.ľhisíeducedtheinstancesof píe-paidand post-paidtaxes. As youpaytaxesontime, youcanavoidtheinteíestcost(bothonpíe-paymentandpost- payment)andpenalty (on post-payment). VeíificationofcoííectnessofGSľíetuín GSľaudithelpsto veíifythetíuenessandcoííectness of GSľfillingandľaxpaid. MatchingofGSľíetuínswithBooksofAccounts InpíepaíingtheReconciliationStatementtheBooksof accountsshould bematchedwithGSľ íetuíns. DepthCheckingofUnclaimedInputľaxCíedit Many times wedon’tclaimtheGSľinputavailablefíom sundíyexpenseslikebank chaígesand smallpettyexp done,GSľAudithelps them to checkandclaiminthenextíetuín. Reveísalof IľS AnyIľCwehaveclaimed duíing theyeaíwhichisnotgivenbythedealeícanbeíeveísedinthenext íetuín.

  2. DocumentsRequiíed GSľINUseíIDpasswoíd SalePuíchasebill Data of Eaílieí Retuíns Filed RegisteísMaintained E-wayBillEntíies Píoceduíe Youaíeíequested to fiístfilloutthesimple questionnaiíepíovided byouíexpeítteamwhichwillenableusto know thestatusofbooksof accounts ofGSľ. Inthesecondstep,youwillbeíequiíedto píoduce thedocumentsbythe questionnaiíefilledbaseduponwhich casewillbedealtwithso that wecanaííangethemaspeíthe íequiíement andfoífuítheí píocessing. Afteíaííangingthedocumentswewillbeginwiththepíepaíation offinancialstatementsandanalyzethe accuíacyofthedocuments Afteí veíification ofallthedatapíovided,thepíacticingpíofessionalwillpíovidetheobseívationsand comments,if any,andsubmittheGSľ AuditRepoítwithíeconciledstatements. Afteísubmittingall thedocuments,theacknowledgmentwillbepíovidedto theclientviamail. AdditionalInfoímation LegalWindowcaííiesouttheauditpíocessinaveíysmooth and tíanspaíentmanneíwithateamofexpeít píofessionals.Whileweconductthe audittheíeaíe a fewthingsto be kept inmind CalculationofAggíegateľuínoveíundeíGSľ Foícomputingthe aggíegatetuínoveí,thefollowingsalesshall beincluded- 1.Valueofallinteí-statetaxable supply

  3. Valueofallintía- satetaxable supply Value of all exemptsupplies Value ofallexpoítsupplies Job woíksuppliesonpíincipaltopíincipalbasis Zeío-íatedsupplies Anysupplytoagent/ jobwoíkon behalf ofthe píincipal 8. Foícomputingthe aggíegatetuínoveí,thefollowingsalesshall beexcluded- ľaxablesupplyon whichíeveísechaígeisapplicable Alltaxes andcesspaid undeíGSľ Goodssupplied and íeceivedback fíomjobwoík BookstobeexaminedundeíGSľAudit:- PuíchaseRegisteí SalesRegisteí StockRegisteí GSľRetuíns Statement ofIľCoíElectíonicCíeditLedgeí ElectíoniccashLedgeí E waybillStatements Amendments madeduíing the peíiod. Annual Accountsmaintainedundeí Income ľax Act, 1961. GSľAuditÏoím GSľR-9C:GSľR9C isanannualauditfoímfoíall thetaxpayeíshavinga tuínoveíabove2cíoíesinapaíticulaí financialyeaí.ľheGSľR 9C foím hasaíeconciliationstatementfoííeconcilingtuínoveí,inputtax cíedits, and taxpayments. Paít-A:-ReconciliationStatement-ľhisisfuítheídividedinto5paíts BasicDetails Reconciliation betweenľuínoveídeclaíedundeíthe2Acts

  4. Reconciliationofľaxespaid ReconciliationofIľC availed Auditoí commentsonReconciliationandAdditionalLiabilityif aíises. Paít-B:-CeítificationByChaíteíed Accountant/CostAccountant Duedates ľheduedate foífilingtheannualíetuínandGSľauditisthe 31stof Decembeí ofthesubsequentfinancialyeaí *Datesaíesubjecttochangeaccoídingtothe officialnotificationfíomthe centíalGoveínment Penalty ľhe penalty foí not getting GSľ accounts audited as peí act is Rs 200 peí day ( Rs 100 foí CGSľ and 100 foí SGSľ).ľhemaximumpenalty will be0.25%ofthetotaltuínoveídeclaíed. AuditoíQualificationfoíGSľAudit AspeíSection35of GSľAudit,theauditcanbepeífoímedbyaChaíteíedAccountantoíaCostAccountant.But theíeaíeexceptions inthepíovisions- An Inteínal AuditoícannotbeappointedasaGSľAuditoí GSľ píactitioneí is alsonotallowed topeífoímGSľAudit

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