Check list for Audit of Traders

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....r advance payment has been made as per Rule 52 of the CGST Rules. 5. Whether the receipt voucher issued for advance receipt has been made as per Rule 50 of the CGST Rules. 6. In case of a composition dealer U/s 10 of the SGST/CGST Act, whether bill of supply has been issued U/r 49 of CGST Rules. 7. Whether invoice has been prepared in triplicate in the case of supply of goods as per Rule 48(1) of CGST Rules. N.B. - Significant omission/commission in the invoice should only be taken into consideration for taking action U/s 73 or 74 of the CGST Act. 2. RETURNS: 1. Check the outward supplies made from GSTR-1 and compare it with the sales account maintained. 2. Check whether claim under Nil rated, exempted and non GST outward suppli....

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.... which ITC availed from GSTR-2 with purchase account maintained to ensure that the ITC was taken on the items actually purchased. 7. Check whether the trader has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 and availed the input tax credit on the said tax component which cannot be allowed in terms of Section 16(3) of CGST Act. 8. Check whether the trader has paid the value of supply to the supplier within 180 days from the of issue of invoice by the supplier in terms of Section 16(2)(d) of CGST Act to ensure that ITC was not taken in cases where consideration was not paid within the stipulated time. 9. Check whether ITC was taken within ....

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....sideration for any supply collected from the purchaser is included in the value of supply 6. Check whether there are supporting documents for the credit notes issued for the sales made 7. Check whether there are supporting documents for the debit notes issued for the sales made 8. To check the time of supply of goods in cases where there is change in rate of tax U/s 14 of CGST Act. 9. Whether the time of supply in case of Composite and Mixed Supply has been correctly made as per Section 8 of the CGST Act. 10. Check whether transactions have been made between related persons. If so, check whether there is significant variation in the value in comparison to similar transactions with unrelated buyers. If there is significant variatio....