TaxTMI 
TaxTMI 
GST on audit fees
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....ST on audit fees<br> Query (Issue) Started By: - pawan agrawal Dated:- 5-8-2017 Last Reply Date:- 6-8-2017 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>if we are doing tax audit of account of 2016-17 in aug 2017. can we give bill of audit after charging gst on audit bill. if yes then how will client show gst on audit fees in his account. Because audit provision has to be made in march 2....
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....017 balance sheet. then can he made audit provision with gst in march 2017 balance sheet. will he received input credit of GST on audit bill and how... Reply By HimansuSekhar Sha: The Reply: You will give gst bill as the provision of service is during the gst period. They will take the credit . Reply By HimansuSekhar Sha: The Reply: You will upload the gstr1 mentioning their gstin which will b....
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....e shown in gstr2a form and after verification will be reflected in credit ledger. Reply By pawan agrawal: The Reply: sir problem is how will show client audit fees with gst in his books of account. could he show audit fee with gst in their march 2017 bs. example audit fees 20000+ gst 3600. in march bs whether he will show 20000 or 23600. Reply By HimansuSekhar Sha: The Reply: Balance sheet wil....
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....l show amount plus tax. No problem if you will show gst. But I will reply you tomorrow. Reply By Rajagopalan Ranganathan: The Reply: Sir, Prior to 1.7.2017, service tax was leviable on audit services. Therefore GST can be shown in the same way how service tax paid for such service was shown. If the bill for audit is raised after introduction of GST then you have to charge GST only. According t....
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....o Section 13 (2) of CGST Act, 2017 "the time of supply of services shall be the earliest of the following dates, namely:- (a) the date of issue of invoice by the supplier, if the invoice is issued within the period prescribed under sub-section (2) of section 31 or the date of receipt of payment, whichever is earlier; or (b) the date of provision of service, if the invoice is not issued wi....
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....thin the period prescribed under sub-section (2) of section 31 or the date of receipt of payment, whichever is earlier; or (c) the date on which the recipient shows the receipt of services in his books of account, in a case where the provisions of clause (a) or clause (b) do not apply: According to rule 47 of CGST Rules, 2017 "the invoice referred to in rule 46, in the case of the taxable....
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.... supply of services, shall be issued within a period of thirty days from the date of the supply of service. Reply By HimansuSekhar Sha: The Reply: Create a provision for the audit fee and 15% Stax amount. Show it in the financial record as liability. Actual expenses will be adjusted in the current year.<br> Discussion Forum - Knowledge Sharing ....