ICAI releases a Handbook on Compliances of GST in Banking Sector



Quick Summary
The Institute of Chartered Accountants of India (ICAI) has released a new Handbook specifically addressing Goods and Services Tax (GST) compliances within the banking sector. This guide is designed to assist members in examining and verifying GST compliance by banks, particularly during branch, central statutory, and concurrent audits. It covers crucial aspects like income, expenses, input tax credit, procedural checks, and includes a questionnaire for GST tax audits, aiming to foster a resilient and sound banking sector through quality audits.

ICAI issues a Handbook on Compliances of GST in the Banking Sector.

ICAI GST Compliance Handbook for Banking Sector Released

Features of the Handbook is as follows

  • It is bought with a view to help members to examine and substantiate GST compliance by banks specially while doing the Bank Branch/ Central Statutory and Concurrent Audit.
  • By conducting audits of financial statements of banks, the auditors play a key role in building a resilient banking sector.
  • This edition analyze the provisions of the GST law in respect of Income earned by banks, expenses incurred by banks, input tax credit under GST, routine procedural checks, questionnaire for GST Tax Audit of banks etc.
  • It will help to develop a safe and sound banking sector supported by quality bank audits.

Click here to download the Handbook

FAQ :

The Handbook is intended to help members examine and substantiate GST compliance by banks, especially during bank branch/central statutory and concurrent audits.

The Handbook analyses GST law provisions concerning income earned by banks, expenses incurred by banks, input tax credit under GST, routine procedural checks, and includes a questionnaire for GST Tax Audit of banks.

The Handbook is primarily for members of the ICAI who conduct audits of financial statements of banks.

It aims to help develop a safe and sound banking sector supported by quality bank audits by ensuring robust GST compliance.

A link to download the Handbook is provided in the article.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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