Check List For Gst Return Preparation

CHECK LIST FOR GST RETURN PREPARATION (GSTR-1 and GSTR-3B) :
FROM MAY 2018 DUE DATE FOR FILING GST RETURNS :
1. MONTHLY GSTR-1 (SALES INVOICE DEATILS) SHOULD BE FILED BEFORE 10 OF NEXT MONTH
Eg. For May, 2018 month, GSTR-1 should be filed before 10.06.2018.
2. MONTHLY GSTR-3B (Consolidated Payment Return) SHOULD BE FILED BEFORE 20 TH.
Eg. For May, 2018 month, GSTR-3B should be filed before 20.06.2018.
SALES :
1. Check Continuation of Sales Bill serial number from previous month. To check whether any
additional bill is made last month after filing the GSTR1/3B of last month.
2. Check continuous serial number of sales bills this month. Any omissions in between. Cancellations,
omissions in books has to be noted and handled accordingly.
3. Documents issued. Documents Cancelled.
4. Check correct rate of tax is applied. Based on customer GSTN whether correct tax IGST (for other
state GSTN) /CGST & SGST is charged.
5. Break up for registered and unregistered customers.
6. HSN Code of the product.
7. Quantity of the goods sold.
8. Any Exempted Sales. Verify whether it is actually exempted.
9. Whether Sales Tallied with P&L.
OTHER INCOMES :
1. Other Taxable incomes in P&L.
2. Other Taxable Incomes in Capital A/c and Memo of Income.
3. Vehicle Sales, Machinery Sales.
Compulsory RCM :
1. Lorry Freight, Advocate Fees, Etc.
2. If lorry transport is from other state, then Pay IGST RCM.
PURCHASE :
1. Correct GSTN and address in the purchase bill.
2. GSTN of the Seller.
3. Whether Purchases tallied with P&L.
4. Other Purchases and Expenses in the Profit and Loss Account.
5. Whether ITC is taken on all purchases and expenses.
6. ITC on Machinery and Vehicle Purchases in Balance Sheet.
7. Whether ITC Taken on RCM paid.
REVERSAL OF BLOCKED CREDIT :
1. ITC on Purchased used for exempted sales.
2. ITC on Building Material, labour, Passenger Vehicle.
3. ITC on Life Insurance, Food expenses,
4. Proportionate Reversal ITC on of Common expenses on Exempted Sales.
REVERSAL OF ITC ON PAYMENTS NOT MADE TO SUPPLIER WITHIN 180 DAYS :
1. In the suppliers ledger, Every Month check whether are unpaid Purchase more than 180 days.
2. If yes then reverse the ITC Tax (IGST, CGST and SGST correctly)
3. Calculate interest at 18% and
PAYMENT :
1. IGST, CGST, SGST, RCM (against IGST, CGST, SGST), Interest on late payment, late filing,
2. Interest on reversal of ITC on non payment to supplier.