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A Practical Guide to GST Audits and Certification

Shri B S V Murthy (Author) CA Mahadev. R. (Author) C A Madhukar Hiregange (Author)

The book has been written with a perspective to enable the taxpayers to ensure compliance with the applicable laws. The vast experience of the four authors in consulting, adjudicating, judging and implementation of indirect taxes would help the professionals implement GST provisions and getting audit done in an easier way. The book is divided into 7 parts as follows: Part 1 – Overview of GST with focus on supply with and without consideration, ITC, valuation, place of supply and classification. Important procedures and professional opportunities. Part 2 – Concept and types of audit under GST including internal audit of GST. Part 3 - Ideal step by step audit process starting with risk assessment and ending with reporting. Professionals would understand how to do audit efficiently and effectively. Part 4 – Technical standards as relevant to GST important for annual return as well as mandatory certification. Part 5 – Detailed concept wise verification of documents/transactions after evaluation of internal control, reconciliation with tips to mitigate demand. Part 6 – Step by step approach in filing of annual return including detailed instructions and checklist. Part 7 – Step by step approach in certification of reconciliation statement including detailed instructions and checklist. Appendices containing gist of important notifications, guidance notes, standards issued and important templates for ready reference of professionals.  Key features: Comprehensive guidance for conducting different types of GST audits Includes provisions of key auditing and accounting standards relevant to GST Includes practical tables giving Step by Step approach with Internal control questionnaires, checklists, review program and reconciliation statements for: – filing annual return with checklist and enabling formats – audit certification Detailed discussion on 8 key reconciliation statements including ITC, outward supplies etc. Extensive list of common errors to be avoided in GST Covers bird's eye view of legal concepts and key procedures of GST at a glance Ready reference appendices to important notifications, accounting entries, guidance notes on audit etc. Extensive discussion on professional approach to GST audit using the internal control questionnaire and sample audit program Covering important tools and techniques for optimization of tax, ITC etc to avoid future disputes. 

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About the authors

Shri B S V Murthy

Shri B.S.V. Murthy, [Bachelor in Science, LL.B, IRS (Retd)], after graduation joined Indian Revenue Service in 1979. During his career, he has been a part of: – The project steering committee for development of risk management system in Customs, – The committees set up for considering refund system, staffing in Central Excise etc.; – The team which developed an audit manual in collaboration with Revenue Canada; – The Indian delegation to Sri Lanka and Nepal. He received the Presidential award for distinguished service record in the year 2005. During his career, he got exposure to all the areas of indirect taxes and for 7 years from 2008, he served as a member of the Customs, Excise and Service Tax Appellate Tribunal and got retired from services in the year 2015. He continues to be active in the professional consultancy after retirement.

CA Mahadev. R.

CA Mahadev. R, [B.Com., FCA], is a partner at Hiregange and Associates, Bangalore. He has been involved in advising clients across different manufacturing and service industries, on various issues under indirect taxes including reviews under GST, for ensuring better compliance. He has assisted many renowned authors of books on Central Excise Made Simple, Practical guide to Service tax etc. and a co-authored a book on ‘Goods and Service Tax’, published by Himalaya Publishing House, for B.com students. He is also an active contributor of articles to Karnataka State Chartered Accountants Association (KSCAA) journal, GST Law Times etc.

C A Madhukar Hiregange

CA Madhukar N Hiregange, [B.Com., FCA, DISA, Passed CISA], is a senior partner at Hiregange and Associates. He has jointly authored 22 books on Central Excise, Service Tax, Karnataka VAT and Excise/Service Tax Audit, IDT - IPCC Study Material, Central Sales Tax, GST - A Primer-2 Editions, GST Classification and Exemption 2017, Compendium of Issues and Solutions in GST – March 2018/May 2019 and GST Tariff – October 2018. He is also working on 3 sectoral books on GST, slated to be published in August 2019. He is constantly active in spreading awareness about Indirect Taxes through seminars, articles, pdicai. org, LinkedIn, Facebook, YouTube, caclubindia.com and hiregangeacademy.com, etc. He has also been a Central Council Member, ICAI, for the term 2010-13 and 2106-19, with a vision of enhancing the credibility of the profession and strengthening the professional in practice and employment. He has also served as Chairman of the Indirect Tax Committee, for the year 2012 and term 2016-19, with the privilege of leading a wonderful and contributing team for 4 years. He is actively involved in efforts to make the indirect taxation simple, certain and fair and also in creating an awareness of the potential of knowledge in the field of indirect taxes in India. He is Managing Trustee of the Empower Education Foundation and is interested in the education of lesser privileged. He firmly believes in “Value-Based Practice and Life”

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Bibliographic information

Title A Practical Guide to GST Audits and Certification
Format Softcover
Date published: 31.08.2019
Edition 2nd ed.
Language: English
isbn 9789389165265
length 959p.