GST Checklist

GST YEAR END MARCH
2023:: CHECKLIST
Intention: To give guidelines to Taxpayer in filling of March 2023 GST
Returns & getting ready for the FY 2023-23
Reconcile the Turnover to be reported as per books April to Feb 22 V/S what is
missing in GSTR1 and GSTR3B, correction to be done in Mar 23 GSTR 1&3B.
Likely missed Supply for reporting: ‘Other/Misc. Income’+Sale of fixed assets +

Liability thereon Expenses Reimbursed net off with exp + Interstate stock transfer.
Turnover & Tax
Credit Notes: Review Debtors and check if the goods returned not accounted
still. Discount given should be pre agreed and not a Bad debt.
RCM Liability: Review purchases Bills without GST. Especially Import of

Services, Payment to online subscription.
Other health checkup compliances:

• Review is Export Proceeds not realized – Rule 96A(3)
• Goods to move out of India within 90days from export invoice.
• Job work will be deemed as supply, if goods sent not received within 1Yr(Input Goods) or
3Yrs(Capital Goods)
• Review position of goods sent on sale on approval basis (6 Month)
Major RCM Liability Expenses
Service Provided By Provided To

Renting of residential Dwelling Registered / Unregistered Registered
Security Services Other than Pvt/Ltd. Company Any Registered person
Rent a Cab Services Ind, HUF, Firm Pvt/Ltd. Company
Real Estate Developer Purchase from URD >20% of project Builder to pay 18% on others and
cost. Cement 100% cement actual rate
Import of Service Any Registered Person
Legal Services Any Business entity T/O >Threshold
GTA Any Registered person/ Co./ Firm /
Society
Services from Govt. Govt. (Check Rates & Taxes; License Business Entity
& Renewal fee etc.)
Sponsorship Expenditure Any Company & Partnership Firm
ITC Related
1. GSTR 2A v/s 2B : Compare 2B for the quantum credits availed MOM. GSTR 2A can be
compared if reconciliation is to be done with Purchases register month by month. For
YTD reconciliation 2B can be considered.
2. Any credits of FY 21-22 to be adjusted in current year 3B. Ref Table 12,13 and 8C of
GSTR 9 2021-22.
3. Reversal of credits
a) Check ineligible credits availed if any [Especially 17(5)]
b) Computation of Rule 42/43 Reversal
c) RCM availed should be less than or equal to taxes paid.
d) Supplier payments pending beyond 180 days.
4. ITC distribution under ISD has been properly made.
Taxes Payable for FY 2022-23
1. Current year GSTR 1 reported Value + Taxes reported in Table 10 – Table 11 of GSTR 9
21-22.
2. RCM Liability to be discharged only in cash
3. Delayed interest to be paid @18% on tax paid through ITC.
Book Closure Entries &
Balance Reconciliation
1. Basis GSTR 3B post journal from Input and Output
ledger to Electronic Credit and Liability Ledger.
2. Offset the liability ledger along with cash payment.
3. Balance if any in Input/Output ledgers to be matched
with electronic ledgers and reconcile for differences
beyond the above
4. Parking ledgers for GSTR 2A mismatch; Refund to
claim; Reversal for Rule 37
Zero Rated supplies may be undertaken in either of
the following ways:-
1. Without any payment of IGST on such outward

supply by executing LUT (Letter of Understanding).
Supplies to
SEZ 2. With payment of IGST on the outward supply by
debit to ‘Electronic Credit Ledger’ but without
collecting this tax from the recipient.
After completing the outward supply, claim refund

of the IGST so debited.
Steps to furnish LUT on
the GST portal
Here are the steps to be followed on GST portal/GSTN to furnish LUT:
Step 1: Login
to GST Portal
Step 2: Go to ‘SERVICES’ Tab > ‘User Services’
> Select ‘Furnish Letter of Undertaking(LUT)’
Step 3: Select the financial
year for which Letter of
Undertaking is applied for
from the ‘LUT Applied for
Financial Year’ drop-down
list. Eg: 2021-22.
Note: If Letter of undertaking has been
already furnished manually for any of the
previous periods, then please upload the
same by Clicking on ‘Choose File’ option
on the same window.
Step 4: Fill up the necessary details on the Letter
of Undertaking Form/ GST RFD-11 that appears
on the screen The following needs to be done on
the form:
(a) Self-Declaration: Tick mark by clicking against each of the three boxes
By doing this, Exporter undertakes the following:
 Export of goods/services will be completed within a period of three months

from the date of issue of Export invoice or further period allowed by the
Commissioner if any.
 To abide by GST law in respect of exports
 To pay IGST along with Interest* if failed to Export
*Interest must be paid at the rate of 18% per annum for the period From date of issue of
export invoice upto date of Payment of IGST.
(b) Give Independent
Witnesses
Information:
Mention the Name,
Occupation and
Address of two
independent
witnesses in the
boxes highlighted in
red color
mandatorily.
Step 5: Enter the Place of filing > Click on ‘SAVE’ > click on ‘PREVIEW’ to verify the correctness of
the form before submission Note that currently, the revision of a signed/submitted form is not possible.
Step 6: Sign and file the form using either of the below options:
The Primary authorized signatory/ any other authorized signatory can sign the
Letter of Undertaking. Authorized signatory can be the working partner, the
Managing Director or the Company Secretary or the proprietor or by a person
duly authorized by such working partner or Board of Directors of such
company or proprietor to execute the form.
Submit with DSC: Sign the application using the registered Digital Signature
Certificate of the selected authorized signatory.
To use this option, Click on ‘SIGN AND FILE WITH DSC’ > Warning
message box appears > Click ‘PROCEED’> System generates a unique ARN
(Application reference number) **
Submit with EVC: To use this option, click on ‘SIGN AND FILE WITH
EVC’ > The system will trigger an OTP to the registered mobile phone number
and e-mail address of the authorized signatory. Enter that OTP in the pop-up to
sign the application > Warning message box for submission appears > Click
‘PROCEED’> System generates a unique ARN (Application reference
number)**
Note: Companies and LLPs can file only using DSC
** A confirmation message appears. GST Portal sends this ARN at registered
email and mobile of the Taxpayer by e-mail and SMS
On the home page, Go to ‘SERVICES’ > ‘User Services’
You can click on the DOWNLOAD button to download
> ‘View my Submitted LUTs’ > Select period > Check
the acknowledgement. You may also check out the
out the list of LUTs furnished during the selected
Letter of Undertakings previously furnished on the
period > Click ‘VIEW’ against the particular Letter of
GST portal.
Undertaking to view the detail.

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GST YEAR END MARCH

Likely missed Supply for reporting: ‘Other/Misc. Income’+Sale of fixed assets +

RCM Liability: Review purchases Bills without GST. Especially Import of

Other health checkup compliances:

Service Provided By Provided To

1. Without any payment of IGST on such outward

After completing the outward supply, claim refund

 Export of goods/services will be completed within a period of three months

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