Checklist for Internal Audit of Taxation

0
146

ParticularsChecked ByRemarks
ACheck for applicability of various Acts
1Income Tax
2VAT
3CST
4Excise Duty
5Service Tax
BPayment
Check that
1Payment is made before due date by Authorised person
2Proper due date chart is maintained and displayed.
3The Unit Head intimates the Asst Taxation Manager about the statutory payments through mail/hard copy before 3 days of the due date.
4Copy of challans is sent to Asst Taxation Manager by 10th of next month
5Monthly consolidated report in prescribed format for all statutory payments is forwarded to Asst Taxation Manager
6All the financials are certified by Unit Head
CFiling & Checking of Returns
Check that
1All the challans and returns are submitted directly by the unit.
2The same is verified by Asst. Taxation Manager before filing and confirmation sent
3All legal compliances are fulfilled by Unit Head and the same is informed to ATM
4The following returns are timely filed
ie TDS Return
iiExcise Return:
iiiVAT Return:
ivService tax Return:
vESI & PF Return:
DScrutiny/ Audit objection / Query from Govt. Department
Check that
1The 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.
2Asst Taxation Manager checks the status of scrutiny/ audit objection/ query etc.
3Asst Taxation Manager prepares the reply of the order / query received by gathering information requirements from Unit Head and send a copy to Unit Head
EGeneral
Check that
1Any amendment in the applicable act is informed by the Asst Taxation Manager to the Unit Head with the due date of applicability.
2Unit Head follows the Notification / circular (Direct & Indirect tax) issued by Govt. when informed by the Asst. taxation manager.
3The following certified details are provided by Unit Head to ATM –
iChallan of tax payment
iiLedger of the account.
iiiAccount statement of party / Purchase / sales etc.
ivRate of TDS/ VAT/ CST/ Excise Duty / Service tax / PF / ESI
vStatement of VAT-7,VAT-8 & VAT-9
viDetails of statutory forms (VAT forms) used during the period.
viiLedger of VAT / Excise / Service Tax
viiiReturn shall be Certified / verified by Unit head.
ixReturn shall be authorized by taxation Dept.
xReturn shall be filed on due date