Scope of GST Statutory Audit

[Kaustubh Karandikar]

Before certifying the Reconciliation Statement in GSTR 9 -C, is the Chartered Accountant mandetorily required to verify with documents and records that 1)the ITC is taken only on eligible inputs & input services 2) GST liability is correctly worked out 3) GST under reverse charge is paid on all applicable transactions 4) Job Work procedure is correctly followed or not etc.. OR he is only required to reconcile the GST records with Balance Sheet figures and then certify accordingly? Please guide.

AI Summary

Chartered Accountants advised to verify GST records using client's Excel template before certifying GSTR 9-C Reconciliation Statement. A user inquired whether a Chartered Accountant must verify specific GST-related documents and records before certifying the Reconciliation Statement in GSTR 9-C, such as eligibility of Input Tax Credit (ITC), accuracy of GST liability, payment of GST under reverse charge, and adherence to job work procedures. The response suggested using an Excel template filled monthly by the client, detailing ITC claims, reverse charge tax payments, and supply values. This template should be reviewed every six months to understand GST-related risks before signing the accounts.