ICAI Technical Guide on GST Annual Return & GST Audit

The Institute of Chartered Accounts of India has released the ebook to cover the technical aspects of GST Annual Return & GST Audit. This is the first edition book published on 20th October 2018.

This Technical Guide on Annual return & GST Audit is a written attempt to create awareness among the trade/ industry and more importantly for the members to discharge their professional duties. Members would be assisting the smaller clients in filing GSTR-9. Further they would be carrying out the audit under section 35(5) along with drawing up reconciliation statement as required under Section 44(2) of CGST Act, 2017 in Form GSTR-9C and certifying the same for those with a turnover over 2 Crores.

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An attempt has been made in this guide to cover areas that are related to the basic principles, policies and special issues pertaining to conduct of a Goods and Services Tax Audit; drawing up reconciliation statement in Form GSTR-9C and certifying; assistance in filing GSTR-9 Form. This paper does not deal with legal interpretations and rulings. This does not contain answers to all the problems that may arise in the day-to-day audit work. In such cases, the GST auditor may have to apply his mind judiciously, keeping in view the intent behind the law, principles and policies.

The practical difficulties faced in filling these forms have been highlighted to the Government which are available at http://idtc.icai.org/budget-memorandum.html . Answers to them are awaited from the Government.

Future changes in the GST Acts, Rules thereon, administrative policies and procedures may require changes to this guide from time to time.

The members who have already started assisting in filing of the Form-9 or conduct of the GST audits and those planning to start immediately could refer to this guide and offer the practical issues arising therefrom.

While, the general scheme of audit, the detailed steps, filling of forms and certification are outlined in the main part of the book, the references and sample documents are incorporated in Annexure and Appendix such as Standard Audit Program, Check list, Audit Working Papers, Notifications, etc. Therefore, these documents should also be perused to understand the entire gamut of the audit scheme under the GST Laws.

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