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TMI BlogQuestionnaire For Review of Internal Control System and Walk Through.X X X X Extracts X X X X X X X X Extracts X X X X ..... chase returns, debit notes are issued? 6. Whether for rejected inward supplies any set procedure is followed. 7. At what stage ITC is availed, i.e. either before testing for rejection or after testing for rejection? 8. On the inward supplies rejected or short quantity received, whether the ITC reversal is done on each invoice basis or on monthly basis. 9. Whether any item supplied free of cost by the customer. OUTWARD SUPPLIES 1. What is marketing pattern - is it through depot, stockist, C&F agent related person or directly by the registered person? 2. How many series of outward supply /GST invoices are generated? For example, there can be different series for outward supplies, export supplies, scrap, other items and job work. 3. Whether all different series of invoices of out ward supplies are entered in one outward supply account or in different outward supply account. 4. Who authorises for despatch of outward supplies? 5. Whether any charges for erection/commissioning collected? 6. Whether Tax invoices are issued for composite supply of both goods and erection & Commissioning (which involves applicability of rate of tax of principal supply, viz., goods)? 7. Whether a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r full value including GST is debited in the books or net value is shown in the capital goods account. 5. In case of capital goods fully written off whether GST deducted from such expenditure account or not? 6. What is the system to check GST liability (payment through Electronic Cash ledger / Electronic Credit Ledger) as shown in the financial records with the GST records? Whether any reconciliation is made for the differences? JOB WORK 1. Whether any input/output ratio has been determined for sending the input for job work. 2. What are the records maintained for sending inputs for job work (either directly from the supplier of inputs/ from the place of business of the registered person) and whether the records show quantity of inputs sent, quantity of final product to be received, actually received and variation? 3. Whether any monthly or periodic statements are prepared for each job work and at what level the statements are verified for taking corrective action? 4. What is the system of treatment of scrap generated at job worker? Whether it is brought back to the registered person's premises or allowed to be disposed off by job worker? 5. Whether the finished goods after ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ↓ Marketing files / Sales performance charts ↓ Debit notes ↓ Purchase order placed by buyers / sale contract ↓ Fixed assets in custody of finance given by buyer V. Classification (where applicable) Research Development --- Product Development - Product lab ↓ Responsibility for verification of tax liability ↓ Intimation Inter office Memo ↓ Marketing documents including literature. VI. Outward supply Tender files ↓ Outward supplies/ sales order Book -- Scrap Register ↓ Marketing files ↓ Price lists ↓ Dealers agreement -- Distributor consignment Agents C & F Agents Agreements ↓ Delivery note - Invoices ↓ Despatch advice ↓ Invoices register VII. outward supply return outward supply return book Bank Reconciliation Statement ↓ Non moving stock register ↓ Credit notes --- Job card / work order ↓ Debit notes IX Non Taxable items Name of the Non-taxable item ↓ ITC availment ↓ Reversal of ITC Part B- SUPPLY OF SERVICES QUESTIONAIRE FOR REVIEW OF INTERNAL CONTROLS (Information to be filled in by the Auditor before filling up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otes to verify recoveries from Customer/clients on which GST is not paid. 4. Use of Inputs/ Input Services in Exempted Services: ➢ Check details of Input Services on which ITC was availed ➢ Check, if any, record maintained for quantifying inward supplies used for exempted outward supply services or non-taxable activity. ➢ Verify use of inward supplies by verifying documents ➢ Check costing of outward supply (prepared for submitting quotation or prepared for calculation of cost of output services) ➢ Check job card/work statement to find out exact quantum of use of input services. B. Questionnaire for gathering information: 1. General: 01. Name & address of the registered person. 02. Name and contact number of the 'Authorised person' for Audit. 03. GSTIN 04 Whether the taxable person is also registered as an Input Service Distributor? 05 Whether the taxable person is a Proprietary, Partnership firm, Limited liability Partnership firm (LLP), Pvt. Ltd Company, Public Limited Company? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvices 25. Details of expenditure in foreign currency on which GST has neither been charged by the registered person nor it is payable under reverse charge mechanism 2. Invoicing pattern 01. Is invoice issued in respect of all transactions? If not, reasons for not issuing invoice. 02. How many series of invoices are being used? 03. If more than one series is used, give details of each such series. 04. If there are more than one series of invoices, is GST paid on all the series of invoices? 05. If not, then the reasons for not paying GST on such series of invoices (e.g. exempted / exports / non-taxable services). Give details. 06. Whether the invoice contains the GSTIN? 07. Is invoice issued on the date of supply of service or before or later? 08. List the different heads under which amounts are billed in invoices and their corresponding heads in the Trial Balance. 09. Name the heads in the invoice on which GST is not paid. 10 Are there a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 03. List the ledger/accounts from where the amount received towards gross monthly amount of exempted service is taken. 04. List the ledger/accounts from where the gross monthly amount of amount received as pure agent is taken. 05. List the ledger/ accounts from where the gross monthly amount billed is taken. 5. Place of supply 1 Whether place of supply is correctly determined in case of supplies so as to identify supplies as whether inter-state or intra state supplies 2 ZERO RATED SUPPLIES - Value of services exported if any, on which no GST has been paid? 3 If so whether all such supplies are eligible to be treated as such ZERO RATED SUPPLIES 4 Is the payment for services exported received by the service provider in convertible foreign currency? It not, list those transactions where amounts are not received in foreign currency. 5 Is the payment for services exported received by the service provider in convertible foreign currency within the time limit prescribed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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