company can under scrutiny of return if more than 95% itc against the total gst liability
GST UPDATES
It is observed that if during the last five to six months your client’s company/ firm has utilized/adjusted more than 95 per cent of Input Tax Credit against the total GST liability. Then it will be under scrutiny of return and following documents will be required by dept.
a) Copy of Registration Certificate.
b) Brief note on Business activity.
c) Self-attested copies of GSTR-1 & GSTR3B for the periods.
d) % of value addition at the time of sale of goods.
e) Stock of goods in terms of Section 35 of the CGST Act.
f) Month wise details of Inward supply of Goods & Services for the periods along with e-way bill copy.
g) Month wise details of Outward Supply of Goods & Services for the periods.
h) Sample output Invoices of post GST regime.
i) Copy of Electronic Credit ledger.
K.C.MAHATO is expert in GST Consultancy and has an experience of more than 10 years in Indirect tax , Direct Taxes and the accounting profession. He is also giving GST Practical Training to Students and SME Traders. He provide services that most effectively meet client needs. Her experience is concentrated in performing GST Laws & Practices and compliances of gst in a variety of industries.
