In the course of internal audit, the following factors came to the light regarding GST of the ABC Trust : The institution has exempt income of ₹2 crore. No invoices have been raised. No GST liability exists on this. Ther

The following are to be brought out in the internal audit report. The bifurcation of income of the Trust as exempt ₹2 Crores with respect to which no invoices have been raised. Non-exempt income of ₹3 Crores with respect to which GST invoices has been raised and GST paid. Non-exempt income of ₹4 Crores with respect to which No GST invoices has been raised and No GST paid. The control systems are not working as no invoices are raised if income is not realized. The invoices should be raised as per the accounting policy of the Trust and due GST has to be paid on the basis of Time of Supply provisions. There should be a complete revamp of the system so that all income is accounted for. Invoices should be raised for all income whether exempt, received or taxable. Also, the Trust needs to claim Income Tax exemption for which proper invoices and accounting documents are necessary.