GST Compliance Checklist in India for GST Returns & Audit | Tally Solutions

GST Compliance Checklist


  • 1. Overview into GST compliance checklist
  • 2. GST compliance checklist for activities done before the inception of GST
  • 3. Checklist for GST returns :
    • a. Return filing due dates
    • b. Selection of return filing cycle
    • c. Form GST TRAN 2
  • 4. Other general GST checklist India :
    • a. Reconciliation
    • b. Refund
    • c. Composition Scheme

1. Overview into GST Compilance Checklist India

GST law being 9 months old and the motion towards the end of financial year 2017-18 instincts the importance for the taxpayers to evaluate the transactions parked in the books as per the GST law.

This will ensure hassle free transition of businesses to the new fiscal year 18-19 as far as GST compliance check list is concerned.

For financial year 2017-2018, the GST taxpayer has to be ready with gst check list for internal audit, gst check list for statutory audit, tax audits and special audits conducted by Chartered accountants and cost works accountants

2. GST Compilance Checklist for Activities Done Before the Inception of GST

  • Transitional Credit : Taxpayers should review the transitional credit carried forward to the GST regime from the existing regime using Form GST TRAN-1 in accordance with the provision laid in the act.
  • Goods sent for job work activity before 01st July 2017 : Taxpayers should ensure that goods sent for job work activity in the existing regime before 1st July 2017 has been brought back to the place of business of the principal within 6 months from the appointed day.
  • Goods sent for job work activity before 01st July 2017 : Taxpayers should ensure that goods sent for job work activity in the existing regime before 1st July 2017 has been brought back to the place of business of the principal within 6 months from the appointed day. In case such goods are not brought back within the above mentioned prescribed timeline, the input tax credit availed by the taxpayer on such goods shall be recovered in accordance with the provision laid under the act.
  • Goods sent on approval basis before 01st July 2017 :
    • Taxpayers should ensure that where the goods sent on approval basis not earlier than six months before the appointed day are rejected or not approved by the buyer are brought back to the place of business of the seller within 6 months from the appointed.
    • Tax shall be payable by the person returning the goods if such goods are liable to tax under GST regime, and are returned after a period specified above
    • For goods sent on approval basis, tax shall be payable by such person if such goods are liable to tax under GST regime, and are not returned within a period specified above.

3. Checklist for GST Returns

  • Return filing due dates : Below mentioned is the chart on the due date for filing of returns under GST regime pertaining to the FY 17-18:
GSTR Return filing Form For the Month Last date for filing
Form GSTR 3B March 18 20th of April 2018
Form GSTR 1 February 18 10th of April 2018
Form GSTR 1 March 18 10th of May 2018
Form GSTR 4 Jan 18 to March 18 18th of April 2018
Form GSTR 6 July 17 to March 18 31st of May 2018
  • Selection of return filing cycle : Taxpayers should check with the aggregate turnover for the FY 2017-2018 and the projected aggregate turnover for the FY 2018-2019 in order to choose the return filing cycle for the FY 2018-2019:
    • If the aggregate turnover is above ₹ 1.5 crore then the taxpayers have to file monthly return.
    • If the aggregate turnover is upto ₹ 1.5 Crore then the taxpayers have an option to file the quarterly return.
    Taxpayer can choose any of the option, but once selected the option cannot be changed for the financial year.
  • Form GST TRAN 2 : The taxpayers who have filed Form GST TRAN 1 and have disclosed the closing stock held as on the appointed day in Form GST TRAN-1 for which the taxpayer is not in possession of an invoice or any document evidencing payment of duty are required to file the details of outward supplies for six months (July'17-Dec'17) in Form GST TRAN 2 before 30th June 2018 for availing ITC in the manner as prescribed under the act.

4. Other General GST Checklist India

  • Reconciliation :
    • Reconciliation of Books with GST Returns : Reconciliation of outward and inward supply data pushed in the GST Returns (transaction wise) with the actual financials should be done.
      The activity will help in identifying the variance (if any) and to incorporate necessary amendments in the returns to be filed for March'2018
    • Matching of ITC: Books vs. GSTR 3B : Reconciliation of ITC availed in the Books vs. GSTR 3B should be done month wise and timing difference and value difference if any, should be identified and appropriate action to be taken.
    • Matching of ITC : GSTR 3B vs. GSTR 2A : Month wise reconciliation of ITC (B2B) availed in GSTR 3B Vs. ITC auto-populated in Form GSTR2A should be done. Variance if any, should be adjusted in Form GSTR 3B for March'2018
  • Refund :
    • Refund of excess ITC : Unlike the refund provision in the existing regime, a registered person making normal taxable supply cannot claim refund of unutilized ITC as on 31st March 2018.
      The same has to be compulsorily carried forward to the next tax period.
    • Refund of excess payment (unutilized amount in electronic cash ledger) : Taxpayers having excess balance in electronic cash ledger which is not planned to be utilised in the near future may be claimed as refund.
      Further appropriate treatment in accounting records should be given.
  • Composition scheme :
    • Taxpayers willing to opt for the composition scheme can apply in Form GST CMP – 02 before 31st March 2018.
    • Taxpayers willing to opt out from composition scheme, can apply in Form GST CMP – 04 before 7th April 2018.


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