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TMI BlogGeneral procedure for GST Audit u/s 65 of the MGST Act 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... nitiating audits u/s 65 of the MGST Act in case of selected RTPs. The present circular is being issued to clarify certain aspects related to GST Audit u/s 65 of MGST Act, 2017. A. Objects of GST Audit . The audit of a RTP would be conducted as per section 65 of MGST Act 2017 along with other relevant provisions of MGST Act 2017 and rules framed thereunder. The primary object of GST Audit is to ensure and promote, the correctness of turnover declared, taxes paid, refund claimed input tax credit availed, and to assess the compliance of Registered Taxpayers (RTP) with the provisions of GST Act and rules made there under GST Audit is a tool with MGSTD to ascertain ensure compliance of laws that are implemented by the MGSTD. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compliance of laws implemented by the MGSTD, the AO will ascertain the correctness of Returns, Annual Returns filed by the dealer under GST Act. Obviously the AO will verify the books of accounts maintained by the RTP (whether in hard format or soft format) along with stile invoices, purchase invoices i.e. Outward Inward supplies, sales purchase journals ledger, cashbook, delivery chalans, e way bills, dispatch proofs, bank statements and every other document or piece of evidence to ascertain the correctness of turnover and the correctness of claims made through returns. The AO may also ask for agreements, purchase / work orders, tender documents, etc, if such documents are required for ascertaining the correctness of returns. The AO is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation, compelling production of documents, etc. The powers would be utilised by the AO only in circumstances where use of such powers becomes necessary for achieving the purpose of audit, and wherever the information sought is not coming forward voluntarily. (v) The AO can verify stock of goods, and ask for clarification if there is any discrepancy. It is however, made clear that the AO on no account shall remove or cause to be removed from the place of business any books of accounts, other documents or any cash or stock. AO on no account can carry out search of premises of RTP. D. Rights and duties of the Registered Person: Rights of the dealer 1. To check the identity of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y correspondence from audit officer with respect to the audit proceeding. 2 To make available all necessary books of accounts (physical record as well as accounting system access/ electronic record as per necessity) to audit team and any other document/information required to complete the audit 3 To provide the necessary facility to verify the books of account/other documents as required 5 To ensure presence of either the Registered Person or his authorized representative at the place of business (POB) where audit is being conducted during audit activity so that he can explain the books and the business activity properly. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vious Act to GST Act) 14. GSTR 2A-Mismatch, unmatched transactions details 15. E-way bill transactions month wise summary statement and corresponding register 16. In case of services, FIRC (Foreign Inward Remittances), corresponding agreements, invoices, Annual Maintenance Contract copies and corresponding invoices if any 17. Details of advances received and tax payment for the same 18. Other Income/ misc. income 19. Reversal / reduction of ITC 20. Scrap sales 21. Details of exempted outward supply 22. Details of zero rated supply 23. Non-GST supply 24. Job work details ( inward and outward side) 25. Credit ledger Input tax credit availment summary (for Capital asset. liability. Refund claim, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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