GST Audit and Annual Return Manual provides guidance on verification of the completeness and authenticity, both technically and logically, of Input Tax Credit by Companies and Auditors.

Key Features:

a) Includes checklist for Input Tax Credit health check
b) Clarifies position on availing of Input Tax Credit in disputed issues including CSR, work contract, Motor vehicle
c) Examines Input Tax Credit in relation to Gift and Business promotion
d) Contains checklists to ensure compliance with provisions related to Input Tax Credit
• Blocked credit
• Job work
• Input Service Distributor
• Reversal of common ITC
e) Provides clarity on
• True and Correct View v/s True and fair view for the Auditor
• Ambiguity on adoption of accounts of Statutory auditor/ other auditor under any other law or Separate Auditor for GST audit of accounts
• GST Audit state-wise vis-a-vis PAN India
• Annual Returns linked with other returns
• Auditor’s position in case of various kind of mismatch between GSTR – 2A & GSTR – 3B

Highlights
a) Analysis of the relevance of September return
b) Highlights the role of CA/ICWA in GST Audit
c) Enumerates Key Actions Points in case of mismatch
d) Examines applicability of rate of interest under various kinds of defaults
e) Discusses advance ruling including the impact of 2018 Amendments
f) Includes checklists for the Auditors
g) Provides section-wise analysis of GSTR-9C with practical Illustrations
h) Covers FAQs on the Annual Return and GST Audit