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  • VAT Audit Checklist

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    Dheeraj
    399 views4 pages
    This 3 sentence summary provides an overview of the VAT Compliance Review Report for a client: The report details the auditor's review of the client's compliance with state VAT regulations over a specified period, noting any issues found in areas like classification of goods, input tax credit claims, output tax accounting, VAT deposition, returns filing, and record keeping. Remarks are provided on any cases or reasons for non-compliance identified during the audit.

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    This 3 sentence summary provides an overview of the VAT Compliance Review Report for a client: The report details the auditor's review of the client's compliance with state VAT regulations over a specified period, noting any issues found in areas like classification of goods, input tax credit claims, output tax accounting, VAT deposition, returns filing, and record keeping. Remarks are provided on any cases or reasons for non-compliance identified during the audit.

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    399 views4 pages

    VAT Audit Checklist

    Uploaded by

    Dheeraj
    This 3 sentence summary provides an overview of the VAT Compliance Review Report for a client: The report details the auditor's review of the client's compliance with state VAT regulations over a specified period, noting any issues found in areas like classification of goods, input tax credit claims, output tax accounting, VAT deposition, returns filing, and record keeping. Remarks are provided on any cases or reasons for non-compliance identified during the audit.

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    of 4

    Name of the Client

    Address

    Subject VAT Compliance Review Report

    Period Covered under audit

    Date of Visit

    Place of Visit

    TIN No.

    Date of Registration

    Goods Registered

    Nature of Business

    We have carried out the review of your esteemed organization as per the rules &
    regulations laid down under the State VAT Act. We have obtained all the information
    and explanations, which to the best of our knowledge and belief were necessary for the
    purposes of our review.

    ASAP & Associates Page 1


    Remarks by Auditor (Cases, if
    Category Issues Reasons, if any
    any)

    Classificati Proper Segregation of Exempt Vs


    on Taxable Goods.

    Goods sold & tax charged/not


    charged but not registered for.

    Whether revision/ modification in


    Registration Certificate with respect
    goods/ locations carried out or not.

    Eligibility for Composition Scheme, if


    yes, then claimed as per Law.

    Whether accounting of Input Tax


    Purchases Credit is being done in proper
    manner.

    Input Tax Credit taken, in


    contravention of the State VAT Act,
    such as absence of proper
    documents, purchase from outside
    the state etc.

    Comments on the process of VAT


    credit reversal, if any & its
    correctness.

    Sales Whether accounting of Output Tax is


    being done in proper manner.

    ASAP & Associates Page 2


    Appropriateness of tax charged on
    sale of Capital Goods & Scrap.

    Deposition Comments on process of calculation


    of of VAT liability. Any non/ Short
    VAT Deposition of tax noticed.

    Late deposition of VAT whether with


    or without interest. Verification with
    the VAT deposition challans.

    Screening of various purchases/sales


    for applicability of VAT.

    Mode of deposition whether


    electronically or otherwise.

    Returns
    Non submission/ late submission of
    filed
    returns whether with or without
    during the
    interest/penalty.
    period

    Reconciliation with the books of


    accounts

    Adjustment of excess tax paid


    earlier.

    Mode of filing the return whether


    electronically or otherwise.

    ASAP & Associates Page 3


    Comments on supply of relevant
    data under various categories for
    VAT Returns.

    Review of back date entries in the


    Revision of accounts with respect to VAT
    Return applicability, deposition and revision
    of VAT Returns.

    Timely revision of returns

    Verification of Purchase/Sales/VAT
    related ledgers taken during the
    previous audit with a view to find
    any back dated entries.

    Proper record maintenance such as


    Record Sales Tax Returns,
    Keeping acknowledgement, deposition
    challans, statutory forms etc.

    Review of Process of collection of all


    Forms & its timely deposition with
    the Department.

    Action
    Comments on the Action Taken
    Taken
    Report.
    Report

    ASAP & Associates Page 4

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