Audit Reports

Public Debt receipts includes ` 2,099.80 crore as back-to-back loans from GoI in l ieu of GST Compensation shortfall. There was less receipt ( `38,604 crore) under Revenue Receipts. This was due to less receipt under Own Tax Revenue ( `4,364 crore), Share of Union Taxes ( `15,200 crore),...

Chapter-IV Quality of Accounts and Financial Reporting Practices 51 CHAPTER-IV QUALITY OF ACCOUNTS AND FINANCIAL REPORTING PRACTICES A sound internal financial reporting system with re levant and reliable information significantly contributes to...

55 Report No. 5 of 20 22 (Indirect Taxes – Goods and Services Tax) 55 Chapter V: Processing of Refund claims under GST 5.1 Introduction Effective management of tax refunds is a key activity in the administration of taxation systems. Hassle free, simple and timely...

15 Report No. 5 of 20 22 (Indirect Taxes – Goods and Services Tax) 15 Chapter III : Effectiveness of Compliance Verification M echanism under GST As per Section 59 of the Central Goods and Services Tax Act, 2017, every registered person shall self -assess the tax payable on supplies made...

119 Report No. 5 of 20 22 (Indirect Taxes – Goods and Services Tax) 119 Chapter VI: Transitional Credits under GST 6.1 Introduction The Goods and Service Tax ( GST ) replaced multiple taxes levied and collected by the Centre and States. GST, a destination...

Goods and Services Tax (GST) is a tax on supply of goods or services or both except taxes on the supply of alcoholic liquor for human consumption. GST came into effect from 1 July 2017. Central Excise duty (except five Petroleum and tobacco products), Serv ice Tax, Additional Custom s Duty ,...

45 Report No. 5 of 20 22 (Indirect Taxes – Goods and Services Tax) 45 Chapter IV: Reliability of GST data maintained by Goods and Services Tax Network Information Technology is at the core of the implementation of Goods and Services Tax. It...

As could be seen from the table above, the Central GST revenue 30 was short of the Budget Estimates for the years 2018 -19, 2019 -20 and 2020 -21. The shortfall vis -?-vis budget estimates was 22 per cent , 10 per cent and 21 per cent for the years 2018 -19, 2019 -20 and 2020 -21, respectively....

2.3) Amount in ` `.. Crore DAP NO. State Commissio nerate Amount Objected Amount Accepted Amount Recovered SGST Component (For GST observations) Ministry’s Reply Audit Comments Service Tax Failure of Department in detecting irregular availing of CENVAT Credit 1 Karnataka Bengaluru North...

12 2.5 Response by Ministry to audit observations included in this report 1 3 Chapter III : Effectiveness of Compliance Verification Mechanism under GST 15-44 3.1 Status of implementation of simplified return mechanism 15 3.2 Scrutiny of Returns under GST 20 3.3 Monitoring mechanism with respect...

Technology Park EOU Export Oriented Unit EXPWOP Export without payment of tax FIRC Foreign Inward Remittance Certificate FTA Free Trade Agreements GST Goods and Services Tax GSTAM Goods and Services Tax Audit Manual GSTIN Goods and Services Tax Identification Number GSTN Goods and Services Tax...