Rights of Taxpayers

1. Right to be heard before assessment.
2. Right to appeal against assessment.
3. Right to claim refund.
4. Right to access audit reports.
5. Right to seek professional advice.

Obligations of Taxpayers

1. Maintain accurate records.
2. File GST returns timely.
3. Pay GST liability.
4. Cooperate with audit authorities.
5. Provide required documents.

Rights of Audit Authorities

1. Right to conduct audits.
2. Right to access taxpayer records.
3. Right to seek information.
4. Right to issue notices.
5. Right to impose penalties.

Obligations of Audit Authorities

1. Conduct audits fairly.
2. Provide notice before audit.
3. Maintain confidentiality.
4. Issue audit reports.
5. Follow GST regulations.

Audit Process

1. Notice issuance (Form GST ADT-01).
2. Audit commencement.
3. Submission of documents.
4. Audit report (Form GST ADT-02).

Assessment Process

1. Self-Assessment (Section 59).
2. Provisional Assessment (Section 60).
3. Final Assessment (Section 61).

Penalties and Consequences

1. Penalty: Up to ₹25,000.
2. Interest: 18% per annum.
3. Cancellation of GST registration.

Best Practices

1. Maintain accurate records.
2. Conduct internal audits.
3. Seek professional advice.
4. Cooperate with audit authorities.
5. Regularly review GST regulations.

References

1. GST Act, 2017.
2. GST Rules, 2017.
3. CBIC notifications.

Additional Resources

1. GST portal (gst.gov.in).
2. CBIC website (cbic.gov.in).
3. GST consulting firms.

FAQs

1. What are rights and obligations of taxpayers?
2. What is the audit process?
3. What are consequences of non-compliance?

GST Audit Checklist

1. Verify GSTIN.
2. Ensure accurate GST returns.
3. Maintain financial statements.
4. Retain invoices and receipts.
5. Conduct internal audits.

GST Assessment Timeline

1. Self-Assessment: Within 3 months.
2. Provisional Assessment: Within 6 months.
3. Final Assessment: Within 3-6 months.

For more information on GST & other taxation related topics, visit bizconsulting.io.