Bloomsbury Handbook on GST Audit by Tax Authorities by IRS Anil Kumar Gupta – 3rd Edition 2022

Keynote

A very reader friendly book allowing readers to learn how GST audit is carried out.

Description

This book has been written with the twin goals of making the tax-payers aware about the compliances required for smooth conduct of GST audit of their business operations as well as to educate the tax auditors so as to enable them to conduct the audit in a fair, transparent and impartial way to ensure compliance of GST law as well as to prevent and plug in the leakage of revenue well in time. The book discusses the practical aspects which an auditor should concentrate on while doing GST audit and where the taxpayers need to be more careful and vigilant.

The audit process has been explained from inception i.e., the selection of taxpayer and intimation of conducting GST audit right upto the conclusion of the same.

The knowledge of accounts is pre-requisite for the departmental officers who otherwise have diverse academic backgrounds. A separate chapter on accounting has been written not only to acquaint them with the elementary accounting process but also to provide further authentic resources to those interested in enhancing their accounting skills. The auditors must perform their duties with utmost sincerity, integrity and diligence; therefore, guidelines about overall conduct of the auditors have been included following which they will manifest the best professional ethics.

Highlights

– Includes GSTAM-2019 issued by CBIC with specific reference to checks to be undertaken during GST Audit.
– Includes practical tables giving Step-by-Step approach with Internal control questionnaires.
– Dedicated chapter on analysis of GST returns, giving itemized compliance requirement by the taxpayers as well as points for checks by the departmental auditors.
– Analysis of GST Audit Process, Annual Returns (Form GSTR-9), Reconciliation Statement (GSTR-9C), Assessments under GST.
– Comprehensive guidance for conducting different types of audits under GST Act.
– Detailed discussions on Key Reconciliation Statements including ITC, outward supplies etc.
– Explains key auditing and accounting terms relevant to GST.

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