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Rule 101 of the CGST Rules, 2017.

by | Aug 11, 2024 | GST, Central Goods and Services Tax Rules, 2017, Rules | 0 comments

Rule 101 of the CGST Rules 2017 Audit.

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Important Keywords: Rule 101 of the CGST Rules 2017, Audit, section 65, FORM GST ADT-01.

Words: 961; Read time: 2 minutes.

Rule 101 of the Central Goods and Services Tax Rules, 2017: Audit.

(1) The period of audit to be conducted under sub-section (1) of section 65 shall be a financial year 1[or part thereof] or multiples thereof.

(2) Where it is decided to undertake the audit of a registered person in accordance with the provisions of section 65, the proper officer shall issue a notice in FORM GST ADT-01 in accordance with the provisions of sub-section (3) of the said section.

(3) The proper officer authorised to conduct audit of the records and the books of account of the registered person shall, with the assistance of the team of officers and officials accompanying him, verify the documents on the basis of which the books of account are maintained and the returns and statements furnished under the provisions of the Act and the rules made thereunder, the correctness of the turnover, exemptions and deductions claimed, the rate of tax applied in respect of the supply of goods or services or both, the input tax credit availed and utilised ,refund claimed, and other relevant issues and record the observations in his audit notes.

(4) The proper officer may inform the registered person of the discrepancies noticed, if any, as observed in the audit and the said person may file his reply and the proper officer shall finalise the findings of the audit after due consideration of the reply furnished.

(5) On conclusion of the audit, the proper officer shall inform the findings of audit to the registered person in accordance with the provisions of sub-section (6) of section 65 in FORM GST ADT-02.

1. Inserted vide Notification No.74/2018-CT dated 31.12.2018.

Frequently Asked Questions

  1. What is Rule 101 of the CGST Rules 2017 regarding audit?

    Rule 101 of the CGST Rules 2017 outlines the procedures and requirements for conducting audits of registered taxpayers under the Goods and Services Tax framework.

  2. Who is responsible for conducting an audit under Rule 101 of the CGST Rules 2017?

    The audit under Rule 101 of the CGST Rules 2017 can be conducted by authorized officers of the tax department, including state and central officials.

  3. What are the key objectives of the audit as per Rule 101 of the CGST Rules 2017?

    The key objectives of the audit as per Rule 101 of the CGST Rules 2017 are to ensure compliance with GST laws, verify tax payments, and detect any discrepancies in returns filed by registered taxpayers.

  4. How often can an audit be conducted under Rule 101 of the CGST Rules 2017?

    An audit can be conducted under Rule 101 of the CGST Rules 2017 at least once every financial year for taxpayers whose turnover exceeds a specified threshold.

  5. What documents are required during an audit as per Rule 101 of the CGST Rules 2017?

    During an audit as per Rule 101 of the CGST Rules 2017, taxpayers are required to provide documents such as invoices, account books, and returns filed under the GST regime.

  6. What rights do taxpayers have during an audit under Rule 101 of the CGST Rules 2017?

    Taxpayers have the right to be informed of the audit findings, to respond to queries raised by auditors, and to appeal any decisions made after the audit under Rule 101 of the CGST Rules 2017.

  7. What is the time frame for completing an audit under Rule 101 of the CGST Rules 2017?

    The audit under Rule 101 of the CGST Rules 2017 must be completed within a prescribed time frame, typically within three months from the date of commencement.

  8. Can an audit under Rule 101 of the CGST Rules 2017 be conducted remotely?

    Yes, under special circumstances, Rule 101 of the CGST Rules 2017 permits remote audits, allowing auditors to review documents electronically.

  9. What are the penalties for non-compliance discovered during an audit under Rule 101 of the CGST Rules 2017?

    Penalties for non-compliance discovered during an audit under Rule 101 of the CGST Rules 2017 may include fines, interest on unpaid taxes, and potential legal actions against the taxpayer.

  10. How can a taxpayer prepare for an audit under Rule 101 of the CGST Rules 2017?

    Taxpayers can prepare for an audit under Rule 101 of the CGST Rules 2017 by maintaining organized records, ensuring timely filing of returns, and understanding the compliance requirements outlined in GST legislation.

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Web Stories: Notification No. 12/2017 — Integrated Tax: Apportionment of Integrated Goods and Services Tax with respect to advertisement services under section 12 (14) of the IGST Act, 2017.

Official Income Tax Return filing website: https://incometaxindia.gov.in/