Bloomsbury A Practical Guide to GST Audits Madhukar Hiregange
Bloomsbury A Practical Guide to GST Audits Madhukar Hiregange
The fourth edition of this book has been written with a perspective to enable the taxpayers to ensure compliance with the applicable provisions of GST. The vast experience of the four authors in consulting, adjudicating, judging and implementation of indirect taxes would immensely help the professionals implement GST provisions and conduct of audit in an easier way while providing value to their clients/employers.
The book is divided into 5 parts as follows:
Part 1 Overview of GST law and insights on good accounting practices and professional opportunities from the perspective of GST Audit.
Part 2 Background of the Annual Returns, role of professionals and a detailed clause by clause analysis with Practical FAQs for filing the Annual Returns in Form GSTR 9.
Part 3 Background of the GST Audit, role of professionals and a detailed clause by clause analysis with Practical FAQs for filing the Reconciliation statement in Form GSTR 9C.
Part 4 Checklists, Formats,FCQs, Templates and Practical Methodology of conducting GST Audit [verification of documents/transactions after evaluation of internal control, reconciliations with tips to mitigate demand, common errors to avoid].
Part 5 Customs Audit, year-end action points for taxpayers, other GST Certifications and Departmental Audit. Appendices containing the gist of important notifications, guidance notes, standards, forms of audit under GST, and important templates for ready reference of professionals.
- Includes practical tables giving Step by Step approach with internal control questionnaires, checklists, templates, good accounting practices, review program and reconciliation statements for:
- Filing annual return with checklist and enabling formats
- Audit certification
- Detailed analysis of reporting comments, remarks and qualifications in Part B of GSTR 9C along with exhaustive list of sample observations and remarks to be reported.
- Detailed discussion on various other key reconciliations including ITC, outward supplies, etc.
- Extensive list of common errors to be avoided in GST while conducting audit.
- Coverage of key reconciliations viz., GSTR 2A to 3B, GSTR 1 to 3B, etc.
- Extensive discussion on professional approach to GST audit using the internal control questionnaire and sample audit program.
- Insights on key year-end activities & relationship between GSTR 1, GSTR 3B & GSTR 9.
- Covering important tools/techniques for optimization of tax, ITC, year-end actions, etc. to avoid future disputes and adding value.
- Visit http://bit.ly/GSTAudit for updates and information.
About the authors
CA Madhukar N Hiregange,[B.Com., FCA, DISA, Passed CISA], is a senior partner at Hiregange & 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 & 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 & hiregangeacademy.com, etc. He has also been a Central Council Member, ICAI, for the term 2010-13 & 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.
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, [B.Com., FCA], is a partner at Hiregange & 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.
CA Ravi Kumar Somani, [B.Com., ACA], CA Ravi Kumar Somani [B.Com., ACA], is a partner at Hiregange & Associates, Pune. He has been involved in performing indirect tax reviews across varied sectors and guiding clients on contracts structuring, workable business models, transactional structuring, developing systems and processes for compliance under Indirect Taxes.
He has authored a book on Indirect Taxes Self study guide to Indirect Taxes, published by Asia Law House. He is a faculty at ICAI and has given lectures at various professional forums on Service Tax and GST. He is also an active contributor of articles in GST Law Times, MCCIA, Newsletter of Pune Branch of ICAI and on other professional forums.
CA Yogesh Virmani,presently working in PricewaterhouseCoopers Pvt. Ltd. (PwC) as a Director. Yogesh has over 11 years of experience in the field of indirect taxation.
Yogesh has been actively involved in advising holistic and business oriented solutions to corporates from an indirect tax perspective. He frequently interacts with various tax authorities on matters relating to indirect taxation.
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