GST compliance check

A tax payer is required to establish effective compliance control with respect to GST provisions. A periodical comprehensive checking of GST compliance is in need very much required in the light of evolving GST law.

There are lot of compliances that needs to be periodically reviewed in order to avoid the exposure of tax liability, interest and penalties. A comprehensive study of books of account must be get done by the tax payer to ensure the strict compliance of the provisions of GST Law.

The comprehensive study covers the following compliance:

1. Checking of Taxability of Supplies;
2. Checking of Export of Goods and Services;
3. Checking of rate of tax on supplies;
4. Checking of Invoicing and its ingredients;
5. Checking of Time of Supply;
6. Checking of Place of Supplies;
7. Checking of Filing of Returns;
8. Checking of Eligibility of Input Tax Credit;
9. Checking of Quantum of Input Tax Credit;
10. Checking of Reversal of Input Tax Credit;
11. Checking of Eligibility of Refund.

Aforesaid check are illustrative only, there are so many other compliance that needs to be checked while conducting the comprehensive compliance check.