Home Audit CHECKLIST FOR LBT HALF YEARLY RETURN

CHECKLIST FOR LBT HALF YEARLY RETURN

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CHECKLIST FOR LBT HALF YEARLY RETURN

1. A purchase register needs to be maintained bifurcating between
  a. Purchases from registered dealer within city,
  b. Purchases from un-registered dealer within city,
  c. Import of goods into the city (purchase or otherwise),
  d. Import of goods into city for Sale or for Branch Transfer
  e. Purchases for which will be used for export,
  f. Goods received by stock transfer within the city.


2. A tracking sheet needs to be maintained for sales rejection, rejection within 6 months are only eligible    for deduction.

3. Separate records for goods imported for export u/r 32 needs to be maintained.

4. Separate records needs to be maintained w.r.t. goods received for job-work stating following details.
  a. Amount of goods imported within the city for processing
  b. Value of goods processed & exported out of the city
  c. Opening balance of unprocessed imported goods
  d. Closing balance of unprocessed imported goods

5. Separate records needs to be maintained w.r.t. goods send for job-work stating following details.
  a. Amount of goods exported out of  the city for processing
  b. Value of goods processed & imported
  c. Opening balance of unprocessed  goods
  d. Closing balance of unprocessed goods