Checklist for Internal Audit of Taxation

Particulars Checked By Remarks
A Check for applicability of various Acts
1 Income Tax
4 Excise Duty
5 Service Tax
B Payment
Check that
1 Payment is made before due date by Authorised person
2 Proper due date chart is maintained and displayed.
3 The Unit Head intimates the Asst Taxation Manager about the statutory payments through mail/hard copy before 3 days of the due date.
4 Copy of challans is sent to Asst Taxation Manager by 10th of next month
5 Monthly consolidated report in prescribed format for all statutory payments is forwarded to Asst Taxation Manager
6 All the financials are certified by Unit Head
C Filing & Checking of Returns
Check that
1 All the challans and returns are submitted directly by the unit.
2 The same is verified by Asst. Taxation Manager before filing and confirmation sent
3 All legal compliances are fulfilled by Unit Head and the same is informed to ATM
4 The following returns are timely filed
i e TDS Return
ii Excise Return:
iii VAT Return:
iv Service tax Return:
v ESI & PF Return:
D Scrutiny/ Audit objection / Query from Govt. Department
Check that
1 The information of the notice received by the unit from the department (i.e. Income Tax, Sales Tax etc.) is sent to the Asst Taxation Manager by the Unit Head.
2 Asst Taxation Manager checks the status of scrutiny/ audit objection/ query etc.
3 Asst Taxation Manager prepares the reply of the order / query received by gathering information requirements from Unit Head and send a copy to Unit Head
E General
Check that
1 Any amendment in the applicable act is informed by the Asst Taxation Manager to the Unit Head with the due date of applicability.
2 Unit Head follows the Notification / circular (Direct & Indirect tax) issued by Govt. when informed by the Asst. taxation manager.
3 The following certified details are provided by Unit Head to ATM –
i Challan of tax payment
ii Ledger of the account.
iii Account statement of party / Purchase / sales etc.
iv Rate of TDS/ VAT/ CST/ Excise Duty / Service tax / PF / ESI
v Statement of VAT-7,VAT-8 & VAT-9
vi Details of statutory forms (VAT forms) used during the period.
vii Ledger of VAT / Excise / Service Tax
viii Return shall be Certified / verified by Unit head.
ix Return shall be authorized by taxation Dept.
x Return shall be filed on due date

Leave a Reply

Your email address will not be published. Required fields are marked *