Audit

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06 August 2013 what should be cchecked in service tax files and tds files while doing concurrent audit?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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06 August 2013 For TDS

1. TDS calculation and applied section correct or not
2. TDS rate applied correct or not
3. Whether tds deduction on what ever tds applicable expenses or not
4.TDS payment made with in due date or not
5. Incase any delay payment proper interest for that delay calcualted and paid the same or not
6.TDS return filed with in due date or not
7. TDS reconciliation between TDS ledger and tds returns

For Service tax

1. Calcualtion of taxable value of service
2. any abatement applied for that service
3. Service tax rate applied for that service
4.CENVAT credit taken details and their correctness
5. Any reverse charge method service tax applied and accounted correctly
6. Service tax payable reconciliation with the service receipt ledger
7. Service tax paid on date
8.Incase any delay, interest for the same paid
9. returns filed ontime without delay
10. Reconciliation of Service tax return with service receipt, service tax payable, paid & cenvat ledgers

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