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taxguru.in /goods-and-service-tax/checklist-internal-audit-gst.html
vinodchaurasia
Introduction: GST is new for everyone. It came to effect from 1 st July 2017. As the corporate industry has
implemented GST in their business, audit for the same is a must. We here came up with some of the checklists
for newly implemented GST.
Following are the general GST matter checklist for Audit Purpose:
2. Capital goods received before Jun 30, 17 -has 50% credit been taken?
4. Is service tax on RCM paid fully where applicable? Like Lawyer fee, Manpower consulting, etc. ( UP to
June17)
B. Display/Registration/Masters:
1. Is Certificate of registration prominently displayed in all locations where business was done?
2. Is GSTIN no. Included along with the name of the business in displays?
3. Does Customer/ Vendor master have PAN no.? /GSTN no. in all cases?
3A. Is PAN No. tying up with the name as per PAN card?
4. Is Company GSTN no. Advised to all our suppliers so input tax credit can be taken? (Including telecom
company, Banker, etc.)
1. Are all Job work locations added as places of business in Company registration?
2. Is GST on RCM paid for all job work charges and purchase of goods and services from unregistered
dealers subject to the maximum non-taxable limit of Rs.5000/- per day on Intra-state supplies received?
(Notification-Central Tax-8/2017 at 28.06.17)
3. Are job work goods not returned being tracked correctly and followed up as they would be treated as
Sales after 180 days?
5. Is there a proper record. Monthly credit of all eligible inputs taken as per books with GSTR 2?
5A. Is timely action taken on all differences? (max time limit for correction two months)
5B. Is action taken to blacklist such suppliers who do not pay in time/ file returns in time?
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7. Is credit taken of TDS at 1% done on all transactions with Govt /local bodies?
9. Is 100% credit taken on all capital goods purchased from Jul 1, 17?
10. Who are the suppliers who pay a composite tax of 1% (Rs 20-75 lakhs turnover) where Company
incurs additional cost due to non-availability of ITC? Is this in order?
11. Are all goods returned within six months when rejected as otherwise no ITC can be taken?
12. On all advances is GST paid and set off later when invoicing done?
13. Are invoices issued before removal / delivery of goods? (sometimes companies retain goods till they
receive payment) this will also affect cut off at period ends
14. Is refund of Input tax credit applied for all exports and sales to SEZ?
16. Check to ensure SGST ITC is not utilized against CGST and vice versa
D. Returns:
3. Does company have a system to retain all GST related documents/ records for at least 72 months from
the due date of furnishing annual return normally and if there is any pending proceeding, then one year
from the end of final disposal of appeal? (Sec 36 & Proviso to Sec 36 of CGST Act)
The author is a practising CA based in Delhi and is registered Insolvency Professional. He can be
reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496.
Disclaimer: The views expressed in this article are strictly personal. The content of this document are solely for
informational purpose. It doesnt constitute professional advice or recommendation. The Author does not accept
any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken
in reliance thereon.
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