Checklist for GST Annual Return

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Checklist for GST Annual Return

  1. Reconciliation of advances received and GST paid for goods & services during July 1st to 15th November 2017 and advances received for services and GST paid for that from 15th November 2017 to 31st March 20I8.
  2. Reconciliation of HSN wise summary with the issued tax invoices.
  3. List of tax invoices issued during the period and reconciliation of the same with the books of accounts, this also should be reconciled with the turnover declared in the audited financial statements. This should be made each GSTIN state wise by the company.
  4. In case company has the different units/branch all over India, then the stock transfer between units/branches also to be reconciled with the books.
  5. Ensure all the bills on which input credit is taken are uploaded by the suppliers and it is reflecting in the GSTR-2A.
  6. Reconciliation of input credit availed and also ensures all the availed credits are eligible as per the act and the ineligible credits, common credits are reversed & accounted properly.
  7. In case any refund application is filed with the department the eligibility and status of the same.
  8. List of debit/credit note issued during the period and reconciliation of the same with books of accounts.
  9. List of purchase and other services bills accounted during the period and the input tax credit taken on the same and further reconciliation with the books and returns.
  10. Details of input credit taken on the fixed assets
  11. Reconciliation of Reverse charge GST (RCM) payable till the applicable date on all the applicable expenses and payment of the same.
  12. Reconciliation of monthly GST returns with the books of accounts and all the taxable, exempted & non GST turnover declared in the returns if any differences, reasons for the same.
  13. Reconciliation of E-way bill data with the tax invoices issued during the period GSTIN statewise.
  14. Check and ensure that if input credit taken by the recipient the supplier’s invoices are paid within 180days, if not then input to be reversed.
  15. Reconciliation discount given to the customers with purpose and recheck if the same is allowed or not under GST.
  16. All the credit taken in TRAN-1 that is being reflected at GST portal has no issue.

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