Description
Bloomsbury India A Practical Guide To Gst Audits And Certification (Third Edition) by Madhukar N Hiregange and B.S.V. Murthy and Mahadev. R and Ravi Kumar Somani
About the book
The book has been written with a perspective
to enable the taxpayers to ensure compliance with the applicable laws in GST.
The vast experience of the four authors in consulting, adjudicating, judging
and implementation of indirect taxes would help the professionals implement GST
provisions and getting the audit done in an easier way while providing value to
their clients/ employers.
The book is divided into 8 parts as follows:
Part 1 – Overview of GST [with focus on
supply, ITC, valuation, place of supply, classification, etc].
Part 2 – Concept and types of audit under GST
[including roles and responsibilities of the auditor].
Part 3 - Audit Process, Methodology &
Approach [Ideal step by step audit process starting with risk assessment and
ending with reporting].
Part 4 – Audit Standards, Accounting Standards
and Guidance Note relevant for GST Audit, Annual Return and Mandatory
Certification.
Part 5 – Detailed concepts of areas to focus
while conducting GST Audit [verification of documents/transactions after
evaluation of internal control, reconciliations with tips to mitigate demand,
common errors to avoid].
Part 6 – Step by step approach in the filing
of annual return [including detailed instructions and checklist].
Part 7 – Step by step approach in the
mandatory certification of reconciliation statement [including detailed
instructions and checklist].
Part 8 - 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.
Key features
• Comprehensive
guidance for conducting different types of GST audits with a focus on Form GSTR
9, 9A & GSTR 9C [for FY 2017-18 & FY 2018-19].
• Includes
provisions of key auditing and accounting standards relevant to GST.
• Includes
practical tables giving Step by Step approach with internal control
questionnaires, checklists, review program and reconciliation statements for:
– filing
annual return with checklist and enabling formats
– audit
certification
• Detailed
discussion on 12 key reconciliation statements including ITC, outward supplies,
etc.
• Extensive
list of common errors to be avoided in GST including while preparation for audit.
• Covers
bird's eye view of legal concepts and key procedures of GST at a glance.
• Ready
reference appendices to important notifications, accounting entries, guidance
notes on audit, etc.
• Extensive
discussion on professional approach to GST audit using the internal control
questionnaire and sample audit program.
• 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 Free Online Updates and Important information.
About the authors
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CA Madhukar N
Hiregange, [B.Com., FCA, DISA, Passed CISA], is a
senior partner at a multi-locational firm in India. He has jointly authored 23
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 Beginners Handbook on GST and 2 sectoral
books on GST on Textiles/ Real Estate, slated to be published in November 2019.
He is constantly active in spreading awareness about Indirect Taxes through
seminars, articles, linkedin, facebook, youtube, caclubindia.com &
hiregangeacademy.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 commerce graduates employable through Hiregange
Academy.
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
TaxAppellate 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], s 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, 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. He has given lectures at C&AG office, Bangalore, ICAI and commerce
colleges for faculties.
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CA Ravi Kumar Somani,
[B.Com., ACA], CA Ravi Kumar Somani [B.Com., ACA], is a partner at
multi-locational firm in India. 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 including NACIN, National Insurance Academy, Mahratta Chamber of Commerce
etc. He is also an active contributor of articles in GST Law Times, MCCIA,
Newsletter of Pune Branch of ICAI and on other professional forums.
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CA Yogesh
Virmani, presently working in Pricewaterhouse
Coopers 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.