Desk overview – overview
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This document outlines major points for examination in an audit of Audit Commissionerate in Agra on December 17, 2015. It lists topics like output liability, taxability, exports and exemptions, classification of bundled services, valuation including reimbursements and free-of-cost items, place of provision, cenvat credit availability and reversals, reverse charge mechanisms for foreign and domestic transactions, notes to accounts, forms 15CA and 15CB, trial balances, agreements, and other issues like ABC analysis, VAT and excise returns, statutory notices, tax payment trends, and taxation accounts. It provides a disclaimer that the content is for informational purposes only.
Desk overview – overview
- 1. Desk Overview – Overview Audit Commissionerate, Agra December 17, 2015 1 CA Gaurav Gupta
- 2. Major Points for examination Output Liability Taxability – Agreements / Invoices Exports/ Exemptions – As per Notifications Classification – Bundled Services – Agreements / PO Valuation – Includes reimbursements, FOC (in certain cases) Place of provision Cenvat Credit Availability – Employee Services Rule 6(3) Reversal in certain situations 2 CA Gaurav Gupta
- 3. Major Points for examination Reverse Charge – Foreign Notes to Accounts Form 15CA / CB Place of provision Reverse Charge - Domestic Trial Balance / Profit and Loss Account Agreements FOC / Reimbursements – Valuation 3 CA Gaurav Gupta
- 4. Major Points for examination Other Points ABC Analysis VAT returns / Excise Returns SCNs and contingent liability Trends in tax payments & ratios Taxation accounts and their balances Unearned incomes / Deferred incomes 4 CA Gaurav Gupta
- 5. Disclaimer This presentation has been prepared for internal use of ICAI and its members. The contents of this document are solely for informational purpose. It does not constitute professional advice or a formal recommendation. The presentation is made with utmost professional caution but in no manner guarantees the content for use by any person. It is suggested to go through original statute / notification / circular / pronouncements before relying on the matter given. The presentation is meant for general guidance and no responsibility for loss arising to any person acting or refraining from acting as a result of any material contained in this presentation will be accepted by us. Professional advice recommended to be sought before any action or refrainment. CA Gaurav Gupta Partner MGS & Co. 507 B, D-Mall, Netaji Subhash Palace, Delhi - 110034 +91 11 32962487 +91 11 2735 2487 +91 98110 13940 cagauravmgs@gmail.com Thank you