VERIFICATION OF SALES

VERIFICATION OF SALES

Verification of sales
sr no.	Particulars	Amount	Verification	ObserGSTion	Remarks
1.	Gross turnover of sales		Whether (i)      GTO of sales to include all transactions of sales concluded during the period of verification including sale of   assets etc. (ii)   any ex post facto grant of discounts or incentives or rebates or rewards and the like   included or not? (iii) the amount of money value of any additional consideration flowing directly or indirectly from the buyer to the seller included or not? (iv)    amount of duty payable and deferred have been included or not? (v)     price of packing   material have been included or not? (vi)    in case of works contracts turnover of sale has been determined in accordance with the provisions of  Rule 9 of the UPGST Rules 2008 or not? (vii)   in case of  transfer of right to use goods the turnover of sale has been determined in accordance with the provisions of Rule10 of the UPGST Rules 2008 or not? (viii)  return of goods beyond the prescribed period has not been deducted? (ix)    amount received from sale of business as a whole is correct? (x) credit/debit notes are available with the assessee or not?
2.	Branch transfers etc		(a)     What is method for valuation of goods which have been   transferred to branches/depot/agent etc. (b)     Verification of the amount with the books of accounts. (c)     Whether accounts maintain by the dealer contains all information as provided under Rule 4 of the UPCST Rules or not? (d)     Whether form F duly filed and signed by appropriate authority, along with the proof of dispatch, have been submitted to assessing authority? (e)     What is method and mode of receipt of money regarding sale proceeds? (f) If payment is not by way of cheque or draft or pay order mention the amount received in cash?  and how money flows in cash?
3.	Turnover of sales including tax payable		Reconciliation of turnover of sales and tax payable with the books of accounts( in case of difference)
4.	Sales under section 4		Description of goods sold and schedule entry number

5.		Break up of total sales under section 8 of CST  Act 1956
	a-	Sales of taxable goods covered by declaration C		Whether circumstances provided under relevant provisions are fulfilled or not?
	b-	Sales of taxable goods not covered by declaration C		Whether tax have been paid or not?
	c-	sale of exempted goods		Whether goods belong to schedule I of UPGST? exempted under any notification issued under UPGST or CST Act 1956
	d-	Sales  of taxable goods but claimed exemption covered by EI and C or EII and C		Whether transaction is actually made   during movement of goods? or there is delay in delivery ?or delivery has been affected after the goods have landed in the state of delivery
	e-	Sale under section 6(3)		Whether conditions mentioned under section 6(3) of CST 1956 have been complied with or not? if not? specify the detail?
	f-	Sale under section 8(6)		Whether conditions mentioned under section 8(6) of CST 1956 have been complied with or not? if not? specify the detail?
	g-	Sale under section 5(3)		Whether conditions mentioned under section 5(3) of CST 1956 have been complied with or not? if not? specify the detail?
	h-	Sale under section 5(5)		Whether conditions mentioned under section 5(5) of CST 1956 have been complied with or not? if not? specify the detail?
	i-	Sale of taxable goods under notification issued under section 8(5)		Whether conditions mentioned under section 8(5) of CST 1956 have been complied with or not? if not? specify the detail?
	j-	sale in course of export of goods out of territory of India		Whether conditions mentioned under section 5(1) of CST 1956 have been complied with or not? if not? specify the detail?
	k-	Sale in course of import of goods into the territory of India		Whether conditions mentioned under section 5(2) of CST 1956 have been complied with or not? if not? specify the detail?
6.		Tax amount whether shown separately or computed as per provisions of section 8-A of CST Act 1956		Whether    amount of tax computed as per provision of section 8A of CST Act 1956 is equal to total tax payable?
7.		Deductions claimed
	a-	Non taxable charges		(a) Description of charges claimed as non taxable (b) Admissibility of deductions in the light of definition of 'sale price' read with the terms of sale (c) In respect works contracts verify whether deductions claimed are admissible and explain the method followed for computation of admissible deductions. (d) In respect of transfer of right to use the goods deductions claimed as non taxable are admissible?
	b-	Sales of Non GST goods		Description of goods sold and schedule entry number

8.		Computation of tax payable		(a)  Methodology followed for classification of sales and under various categories including tax rate wise classification (b)  In respect of works contracts, methodology followed for determination of sale consideration of the goods taxable at different rates. (c)  In respect of leasing transactions and hire purchase transactions, methodology followed for determination of sale price liable to tax. Elements of consideration not forming part of 'sale price' to be specified.
	a-	Sales taxable @ 1 %		Description of goods sold and schedule entry number
	b-	Sales taxable @2%		Description of goods sold and schedule entry number
	c-	Sales taxable @ 4%		Description of goods sold and schedule entry number
	d-
	e-
	f-
	etc

9-		Amount of tax payable under the UPGST Act on works contracts		(a) Method followed by discharging tax liability under the UPGST Act and the amount of tax/ composition payable under the said Act (b) Tax liability in respect of such turnover of sales disclosed in the returns for the period verification
10-		Amount of tax payable under the UPGST Act on leasing contracts		(a) Method followed for discharging tax liability under the rules of UPGST Rules and the amount of tax payable under the rule. (b) Tax liability in respect of such turnover of sales disclosed in the returns for the period of verification.

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