A Practical Guide to GST Audits and Certification (Second Edition) at Meripustak

A Practical Guide to GST Audits and Certification (Second Edition)

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  • General Information  
    Author(s)CA Madhukar N Hiregange and Shri B S V Murthy and CA Mahadev R and CA Ravi Kumar Somani
    PublisherBloomsbury India
    EditionSecond Edition
    Publish YearJuly 2019


    Bloomsbury India A Practical Guide to GST Audits and Certification (Second Edition) by CA Madhukar N Hiregange and Shri B S V Murthy and CA Mahadev R and CA Ravi Kumar Somani

    Updated for Finance (No.2) Act, 2019
    About the book
    The book has been written with a perspective to enable the taxpayers to ensure compliance with the applicable laws. 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].
    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 and other GST certifications.
    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 & 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 8 key reconciliation statements including ITC, outward supplies, etc.
    • Extensive list of common errors to be avoided in GST.
    • 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
    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.
    Technical Reviewer
    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.