Sales and Outward Supplies

Verify the accuracy of all sales invoices and receipts

Ensure all sales transactions are recorded in the correct GST rate

Confirm the GSTIN of the customers for B2B transactions

Reconcile the total taxable value and tax amount with the books of accounts

Check for any amendments or corrections required in the GSTR-1 for previous periods

Amendments to Outward Supplies

Review any amendments made to the outward supplies

Verify the correctness of the amended invoices or credit notes

Ensure the correct tax treatment is applied for amendments

HSN Summary of Outward Supplies

Check the HSN codes and descriptions for all outward supplies

Verify the total taxable value and tax amount for each HSN code

Cross-check the HSN summary with the sales invoices

Check for Nil Rated, Exempt, and Non-GST Supplies

Identify any nil rated, exempt, or non-GST supplies

Confirm the accuracy of the values reported for these supplies

Export and SEZ Supplies

Review all export and SEZ supplies

Verify the accuracy of invoices and shipping bills

Ensure the correct tax treatment is applied for these supplies

Credit/Debit Notes Issued

Cross-verify all credit and debit notes issued

Confirm the accuracy of invoice references and values

Amendments to Credit/Debit Notes

Review any amendments made to the credit and debit notes

Verify the correctness of the amended notes

Amendments to Export and SEZ Invoices

Check for any amendments made to export and SEZ invoices

Verify the accuracy of the amended invoices

Import of Goods and Services

Review all import transactions

Confirm the accuracy of the invoices and customs duty paid

Ensure the correct tax treatment is applied for these transactions

Tax Liability

Calculate the total tax liability for the reporting period

Verify the accuracy of the taxable value and tax amount for each tax rate

Payment of Tax

Confirm the payment of tax through appropriate modes

Cross-check the tax amount paid with the tax liability

Input Tax Credit

Reconcile the input tax credit claimed with the purchase invoices

Verify the eligibility of input tax credit for various expenses

Amendments to Tax Liability

Review any amendments made to the tax liability

Verify the correctness of the amended values

Late Fees and Interest

Check for any late fees or interest payable

Confirm the accuracy of calculations

Bank Statement

Obtain the latest bank statement

Cross-check the opening and closing balances with the books of accounts

Review any outstanding checks or deposits in transit

Cash Transactions

Reconcile all cash transactions recorded in the books with the bank statement

Confirm the accuracy of deposits and withdrawals

Outstanding Checks

Identify any outstanding checks not yet cleared by the bank

Verify the correct recording of these checks in the books

Deposits in Transit

Identify any deposits in transit not yet reflected in the bank statement

Confirm the correct recording of these deposits in the books

Bank Charges and Interest

Review any bank charges or interest recorded in the bank statement

Confirm the accuracy of these charges or interest in the books

Reconciliation Adjustments

Make necessary adjustments for any discrepancies between the bank statement and the books

Investigate and resolve any differences in balances

Final Reconciliation

Cross-verify the adjusted balances with the bank statement

Ensure the closing balance matches the books of accounts