By - CA. R. A. Sharma FCA, DISA 93511-45820 Accounts Audit Assessment AND Appeal By - CA. R. A. Sharma FCA, DISA 93511-45820 R. A. Sharma FCA, DISA Mobile No. 9351145820

Welcome GST with Challenges Ahead IT setup Internet flow and speed availability GSTN Site Client’s readiness and Capability to cope with online workings Increased compliance cost of client and consultant both Power supply in small places Support of States/Central departments Regular awareness with updation New Concept in Indirect taxation Business re-engineering R. A. Sharma FCA, DISA Mobile No. 9351145820

GST-Schema of Taxation Goods/Services Supply, Place,Time, Value Rate of Tax Input credit, Reverse Charge Compliances Payment of Taxes Returns Accounts, Invoices Penalties Assessment-Appeals R. A. Sharma FCA, DISA Mobile No. 9351145820

GST-Role of Professionals Practice under VAT, service tax and CE is merged Procedural Practice has limited role now: Composition dealers-mfr included Small dealer without composition with no IT support Medium Dealer with medium level of IT support Large Enterprises with full setup of IT and back staff Rule based online working Shifting of procedural working downward side Shifting of litigations to upward side After Three years how GST will remain avenue for practice ? R. A. Sharma FCA, DISA Mobile No. 9351145820

Accounts -Section 35-36 Every registered person..at principal place of business as per RC … accounts of: (more than one place …at all such places) Production or manufacture of goods Inward,outward supply Stock of goods Input credit availed Output tax payable Owner of Godown and Transporter to maintain records Clause 5 of Sec 35 Audit by CA/CWA Section 36-Accounts to retain for 72 months after expiry of due date of AR i.e. after 31st December R. A. Sharma FCA, DISA Mobile No. 9351145820

Accounts -Rules RCM liability details Stock records mandatory Details of Tax payable, Tax Collected and paid, Input credit claimed, debit/credit notes etc Rule (8)Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out under attestation and there after correct entry shall be recorded and where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained. R. A. Sharma FCA, DISA Mobile No. 9351145820

Accounts -Rules (10) Unless proved otherwise, if any documents, registers, or any books of account belonging to a registered person are found at any premises other than those mentioned in the certificate of registration, they shall be presumed to be maintained by the said registered person. Manufacturer of goods to maintain monthly production records Supply of services to maintain quantity details of goods of input and input services utilized Works contractors to keep records of value and Q details of input and out put services R. A. Sharma FCA, DISA Mobile No. 9351145820

Proper Backup of Electronic record Accounts -Rules Proper Backup of Electronic record Godown/warehouse owners and Transporters-ENR-1 for enrolment, Godown owner shall distinguishable details of goods Transporter shall maintain details of receipts and issue of goods R. A. Sharma FCA, DISA Mobile No. 9351145820

Accounts -Challenges Accounting for Stock Transfers Accounting for taxes on Advances and it’s input credit Stock Records mandatory for all Owner of Godown and Transporter to maintain records Clause 5 of Sec 35 Audit by CA/CWA- is welcome clause Section 36-Accounts to retain for 72 months after expiry of due date of AR i.e. after 31st December almost 7 years Corrections in accounts made difficult R. A. Sharma FCA, DISA Mobile No. 9351145820

Assessment in GST Regime Dominant role of CBEC in drafting Not much difference as per present procedure Departmental approach -State Vs Centre Service tax procedures are mainly followed R. A. Sharma FCA, DISA Mobile No. 9351145820

Certain Pecuniary provisions Self Assessment(59) concept as per service tax and income tax –Proper officer not AO Provisional Assessment (60)- unable to determine the value of goods and services or determine the rate of tax-request for provisional payment of tax and officer will pass order within 90 days, thereafter within 6months final order Scrutiny of Returns(61): and inform the discrepancies, and proceed for taxation Assessment of Non Filers(62): Best judgement with available material- limitation of 5 years from FY-if return is submitted after service of order-the best judgement order stands withdrawn Assessment of unregistered persons(63)- Best Judgement but limitation within 5 years of FY R. A. Sharma FCA, DISA Mobile No. 9351145820

Certain Pecuniary provisions Summary Assessment in case of special cases (64) with previous permission of addl or Joint CIT may issue notice and proceed to assess tax liability to protect interest of revenue IF HE HAS SUFFICIENT GROUNDS THAT DELAY WILL AFECT ADVERSELY TI REVENUE Provided the taxable person is not ascertainable, and tax liability pertains to supply of goods, person incharge of goods is liable If order is erroneous, on application by taxable person or suomotto by deptt the order may be withdrawn No provisions for rectification of other orders No escapement assessment, No revision of returns R. A. Sharma FCA, DISA Mobile No. 9351145820

Certain Pecuniary provisions Under Chapter Demand and Recovery Section 73 and 74 says Determination of tax not paid/short paid input wrongly availed and utilised Fraudlently or willfull supression of facts 5 years period R. A. Sharma FCA, DISA Mobile No. 9351145820

Audit by GST Authorities (65) Special Audit (66) Audit under GST Audit by GST Authorities (65) Special Audit (66) Audit by CA/CWA {44(2)} R. A. Sharma FCA, DISA Mobile No. 9351145820

Appeals and Revision Appeal to Appellate Authority (107) within 3 months Commissioner may call for and examine the record of any proceedings of adjudicating authority to satisfy himself as to legality or propriety of the said decesion or order and may direct to appeal against the said order within six months 10% of disputed amount to be paid first and balance deemed stay During hearing of appeal no adjournments more than three times R. A. Sharma FCA, DISA Mobile No. 9351145820

No remand of cases back to adjudicating authority Appeals and Revision No remand of cases back to adjudicating authority Appeal shall be decided within a period of one year R. A. Sharma FCA, DISA Mobile No. 9351145820

Appeals and Revision Revision (108): Revisional Authority may call for record of proceedings and considers that the order passed by his subordinate is erroneous in so far as it is prejudicial to the interest of revenue and is illegal or improper or has not taken into account certain material facts or in consequence of Audit objection by CAG He may Stay the operation of such decision or pass such order as he may deem fit R. A. Sharma FCA, DISA Mobile No. 9351145820

No revision after expiry of three years of date of order Appeals and Revision No Revision for appeal filed cases or still apeal filing time available No revision after expiry of three years of date of order No revision if already revised Appeals to Tribunal, High Court and Supreme Court R. A. Sharma FCA, DISA Mobile No. 9351145820

R. A. Sharma FCA, DISA Mobile No. 9351145820