Guide to GST Compliance Review (with GSTR-9 and 9C)

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Description
GST in India has now completed seven years of tumultuous existence with frequent major changes coming in the way of clear understanding of the mixed unique law. The passing of the GST in consensus with all the States is no mean achievement, though it led to a dilution in the implementation of pure and pristine principles of value-added tax. The push to make the law simple has actually led to confusing the law and led to many unsavory practices of the past resurfacing.
The audit function is recognized as an essential part of the economy of any country. Today it leverages rapidly changing technology to provide credibility and assurance to stakeholders ranging from the general public, investors, shareholders, lenders, regulators and other users of financial statements. Changes have been made in the provisions to omit Section 35(5) of CGST Act, 2017 with respect to certification of GSTR-9C form by the chartered/ cost accountant. From FY 2020-21, self-certification by the registered persons would be required thereby increasing the onus on the registered persons to ensure correctness of information being shared through GSTR-9 or GSTR-9C.
In this book, focus has been given to GST reviews and with providing various tools in the form of audit program, checklists and commentary along with a sample compliance review report. There has also been an increased focus on practical approaches in annual return and self-certification statement process considering the practical experience of the past years. Considering various jurisprudence in the past 7 years, chapters on important judgements in GST has been provided. Necessary guidance has been provided for taxpayers. The chapter on departmental audits would be useful for handling the departmental audits which have been ongoing for the past 3-4 years wherein significant difficulties are being faced by taxpayers across the country.
The main objective of this book is to enable one with knowledge of the GST law, to be able to comply with the presently complex law and elaborate procedures as well as for the professionals to review and guide. The role of voluntary concurrent review being of value to the industry and trade has been underlined throughout this book. The incidental objective sought is prevention and mitigation of disputes and consequent corruption which has been the bane of the earlier indirect tax laws in India.
A taxpayer must comply with this complex law, which places added responsibility on a taxpayer for compliance by the suppliers, which is unfair. It has become a common practice by the tax authorities to assume most cases are liable to full penalties on account of fraud, misstatement, suppression of information etc. Therefore, taxpayers must be aware of the limitation period and dispute incorrect procedures along with incorrect tax positions assumed by the department.
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Table of Contents
Chapter 1. Introduction to GST - Compliance Review
Chapter 2. Basic Concepts of GST Law
Chapter 3. Professional Opportunities in GST
Chapter 4. Relationship between Periodical Returns, Annual Returns and GST Reconsiliation Statement
Chapter 5. Types of Audit and Reviews under GST
Chapter 6. Review Process, Methodology and Approach in GSTR - 9C Support
Chapter 7. Internal Controls
Chapter 8. Accounts, Records and Documents to be Maintained
Chapter 9. Outward Supply
Chapter 10. Inward Supply - ITC
Chapter 11. Reverse Charge
Chapter 12. Refunds
Chapter 13. Procedural Aspects
Chapter 14. Reconciliations
Chapter 15. Common Errors to be Avoided in GST
Chapter 16. Important Year End Action Points in GST
Chapter 17. Sample Review Report
Chapter 18. Customs Audit
Chapter 19. Certifications under GST
Chapter 20. Departmental Audit
Chapter 21. Important Judgements Relevant for GST
Chapter 22. Introduction to Annual Returns
Chapter 23. Role of Assesees and Professionals in filling Annual Return
Chapter 24. Good Accounting Practices for Ease in Preparation and Filling of Annual Returns and Reconciliation Statement
Chapter 25. Clause by  Clause Analysis of Annual Return - Form GSTR - 9
Chapter 26. Clause by Clause Analysis of Annual Return - Form GSTR - 4
Chapter 27. Annual Return - form GSTR - 9B
Chapter 28. Steps in filling of Annual Returns on GST Common Portal
Chapter 29. Important tips and Formats for Preparation of Annual Return
Chapter 30. Checklist for Annual Returns for Professionals
Chapter 31. Practical FAQ's in Fillling of Annual Returns
Chapter 32. Role of Client and Reviewer in GST Review and Self - Certification
Chapter 33. Clause by Clause Analysis of GSTR - 9C
Chapter 34. Steps in Filling of GSTR - 9C on GSt Common Portal
Chapter 35. Documentation and Work Papers in GST Review - Best Practices
Chapter 36. Review Program And Checklist on GST Review for use by Professionals
Chapter 37. Ethical Standards and Independence of Auditor
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Author Details
CA Madhukar N Hiregange [B.Com., FCA, DISA, CISA), is a senior partner of a multi-locational firm in India. He has jointly authored 36 books on Central Excise, Service Tax, Karnataka VAT and Excise/Service Tax Audit, IDT-IPCC Study Material, Central Sales Tax. 12 books in GST including Compendium of Issues and Solutions in GST - July 2021, GST Judicial Precedents (June 2023), Industry specific books on Real Estate (March 2022), Automotive sector (Dec 2023), Textile (Nov 2021), Pharma/Healthcare (February 2021), and many more. He is active in spreading awareness about Indirect Taxes through seminars, articles, linkedin, facebook, youtube, taxsutra & hiregangeacademy.com, thehiregangebridge.com, etc. He had 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 professionals in practice and employment. He had 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. Currently focusing on making graduates employable and provide valuable life lessons through various initiatives such as HNA Skilling, Hiregange Academy and The Hiregange Bridge.
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".
CA Mahadev.R, [B.Com., FCA] is a partner at multi- locational firm in India. He has been involved in advising clients across different manufacturing and service industries, on various issues under indirect taxes including reviews under GST, to ensure better compliance.
He is the technical reviewer of the book Practical Guide to E-way Bill under GST (February 2022), joint author of GST Audit and Certification (Fifth edition - November 2021) and a book on 'Goods and Service Tax', published by Himalaya Publishing House with third edition released in November 2023 for B.com & BBA students of various universities in Karnataka. Co-author of 'Cost control and Tax planning in indirect taxes' booklet  published by Hiregange Academy. Authored E-book on Indirect taxes for CA IPCC students for Vittam Pravina Gurushala along with Dr. Rajesh Kumar. He has assisted many renowned authors of indirect tax books such as Central Excise Made Simple, Practical guide to Service tax etc. He is also an active contributor of articles to Karnataka State Chartered Accountants Association (KSCAA) journal, taxsutra, taxguru etc. He has given lectures at C&AG office, Bangalore ICAI, Hiregange Academy, various client locations and commerce colleges for faculties.
CA Akshay M Hiregange [ACA, DISA] He is a Partner of the Audit & Assistance wing at a multi-locational firm in India. He has experience of over in Internal Audits, Compliance & Assistance and Indirect Taxes, and in the past decade directing focus toward GST, including audit/review and consultancy matters. He has headed GST Impact Assessments of various industries such as Automobile, Software, Manufacture, Logistics, Retail, Construction, Education, Job Work, Charitable Trusts, etc. He has also undertaken GST trainings for corporate clients, and has been invited by ICAI as a speaker on GST on multiple occasions. Co-author of 'Due Diligence under Indirect Tax' booklet. A regular contributor to GST articles and replies to KSCAA, Mangalore branch ICAI, taxsutra, CCI, taxguru, etc.