ISMAIL AND ASSOCIATES
Accounts | Income Tax & VAT Consultants
CHECKLIST of AUDIT REQUISITION Documents
RMG (Garments) & Textile Industry — Statutory Audit and Income Tax / VAT Compliance
| Client / Company Name | ________________________________________________ |
| Unit(s) Covered | ☐ Garments Unit ☐ Textile Unit ☐ Both |
| Financial Year | From ____________ to ____________ |
| Assessment Year | ________________________________________________ |
| Prepared By | ________________________________________________ |
| Date | ________________________________________________ |
1. General & Corporate Documents
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Draft Financial Statements for the year | ☐ | |
| 2 | Draft Return of Income Tax | ☐ | |
| 3 | Draft Tax Computation Sheet | ☐ | |
| 4 | Trade License, IRC/ERC, BIN/VAT Registration, TIN Certificate (updated copies) | ☐ | |
| 5 | Memorandum & Articles of Association / Partnership Deed (if changed during the year) | ☐ | |
| 6 | Board Resolutions relevant to the year (loans, related party transactions, dividend, etc.) | ☐ | |
| 7 | Organogram / list of authorized signatories | ☐ | |
| 8 | Statutory Auditor’s appointment letter / engagement confirmation | ☐ |
2. Property, Plant & Equipment (PPE) — Additions & Disposals
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Schedule of PPE additions: Land & Land Development, Building & Other Construction, Plant & Machinery, Office Equipment, Fire Hydrant & Alarm System, Tools & Equipment, Gas Boiler & Generator, Computer Equipment, Furniture & Fixture, Vehicles | ☐ | |
| 2 | Requisition & Managing Director’s approval copy for capital purchases | ☐ | |
| 3 | Payment Voucher and Bank/Cash payment evidence | ☐ | |
| 4 | Bill of Entry (Customs Assessment) for imported assets | ☐ | |
| 5 | TDS Challan with schedule for locally purchased assets | ☐ | |
| 6 | Revaluation report/copy (if any revaluation carried out) | ☐ | |
| 7 | Details/schedule of disposal, write-off or transfer of assets during the year | ☐ | |
| 8 | Depreciation schedule (tax and accounting basis) with rates applied | ☐ |
3. Capital Work-in-Progress (CWIP)
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Capital Work-in-Progress schedule with supporting vouchers/bills | ☐ | |
| 2 | Details of capitalization made during the year (date & amount transferred to PPE) | ☐ |
4. Inventory
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Year-end stock report (Raw Materials – Fabrics, Accessories & Spare Parts, Work-in-Process, Finished Goods in Warehouse, Finished Goods in Transit for Export) with reconciliation | ☐ | |
| 2 | Cost sheet for consumption (raw material to finished goods) | ☐ | |
| 3 | L/C-wise breakup for goods in transit with customs/consignment documents | ☐ | |
| 4 | Physical stock-taking certificate / inventory count sheet signed by responsible officer | ☐ | |
| 5 | Stock valuation basis and method note (FIFO/Weighted Average, NRV comparison) | ☐ | |
| 6 | Slow-moving/obsolete/damaged stock schedule and provisioning basis | ☐ |
5. Trade Receivables
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Schedule of Bills/Trade Receivables — L/C or Bill No.-wise breakup | ☐ | |
| 2 | Bank statement evidencing realization, including ageing analysis | ☐ | |
| 3 | Shipping Bill / Bill of Lading copies | ☐ | |
| 4 | L/C copy for each outstanding bill | ☐ | |
| 5 | Export Realization Certificate from bank | ☐ | |
| 6 | Confirmation/reconciliation with customers (where applicable) | ☐ |
6. Advances, Deposits & Prepayments
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Advance to Suppliers — party-wise breakup with ledger and supporting invoice | ☐ | |
| 2 | Bank statement or payment instrument copy for advances made | ☐ | |
| 3 | Prepaid Insurance Premium — insurance policy copy, premium schedule, deposit slip/acknowledgement | ☐ | |
| 4 | FDR against L/C Margin and Bank Guarantee — FDR deal slip and bank statement | ☐ | |
| 5 | Security Deposit schedule with agreements (rent, utility, others) | ☐ | |
| 6 | Advance to related parties / employees — schedule with terms and recovery status | ☐ |
7. Cash & Cash Equivalents / Bank
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Cash-in-hand certificate / cash book (as at year end) | ☐ | |
| 2 | Bank statements for all accounts (Local Currency, ERQ, FC Held) for the full year | ☐ | |
| 3 | Bank Reconciliation Statements for all accounts as at year end | ☐ | |
| 4 | Bank confirmation/certificate directly from banks (balance confirmation) | ☐ | |
| 5 | Foreign currency conversion rate applied at year end (with source/reference) | ☐ |
8. Advance Income Tax (AIT)
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | AIT on FDR Interest — bank certificate | ☐ | |
| 2 | AIT on Cash Incentive — bank certificate | ☐ | |
| 3 | AIT on Car Registration — BRTA challan copy | ☐ | |
| 4 | AIT on Export Proceeds Realization — bank certificate | ☐ | |
| 5 | AIT on Import (Machinery / L/C) — customs challan copy | ☐ | |
| 6 | Consolidated AIT schedule reconciled with tax return / IT-10B/143 | ☐ |
9. Related Party Balances & Transactions
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | List/schedule of amounts Due to / Due from related parties (Group companies) | ☐ | |
| 2 | Bank statement and amount breakup with sample-basis challan / money receipt / voucher copies | ☐ | |
| 3 | Acknowledgement/confirmation certificate from the related payor/payee | ☐ | |
| 4 | Board approval / agreement for inter-company transactions, if any | ☐ | |
| 5 | Basis and terms of related party transactions (interest, tenure, purpose) | ☐ |
10. Long Term Loan / Liability
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Bank-wise breakup of long-term loan with sanction letter/copy | ☐ | |
| 2 | Loan statement / bank statement for the year | ☐ | |
| 3 | Loan repayment schedule with current vs. non-current portion calculation | ☐ | |
| 4 | Machinery L/C accepted liability schedule and supporting documents | ☐ | |
| 5 | Charge/mortgage documents registered with RJSC (if applicable) | ☐ | |
| 6 | Summary of interest expense charged during the year | ☐ |
11. Trade & Other Payables
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Salary & Wages payable — ledger with Head Office and Factory breakup | ☐ | |
| 2 | Overtime payable — ledger | ☐ | |
| 3 | Gas & Electricity Bill (factory) — party-wise breakup, monthly bills and ledger | ☐ | |
| 4 | Fabrics lab test, Postage & Courier, Internet, Auditors’ fee — ledger and supporting bills | ☐ | |
| 5 | Creditors for goods supplied and others — party-wise breakup | ☐ | |
| 6 | Ageing schedule of trade and other payables | ☐ |
12. Short Term Loan / Bank Facilities
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Bank sanction copy for each facility (Acceptance – Local, Acceptance – Foreign, EDF, FDBP/IDBP, PC, PAD/Time/Demand Loan, Overdraft) | ☐ | |
| 2 | Bank statement for each short-term facility | ☐ | |
| 3 | L/C, product and currency-wise bank outstanding position statement | ☐ | |
| 4 | Bank certificate confirming year-end outstanding balances | ☐ |
13. Revenue
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Export sales — sales policy, L/C and packing list-wise shipment statement | ☐ | |
| 2 | Customs / delivery challan documents for in-transit shipments | ☐ | |
| 3 | Mushak-9.1 (VAT) and Bank Export Performance Certificate | ☐ | |
| 4 | Delivery challan statement from Commercial Department | ☐ | |
| 5 | Cash Incentive — bank statement and disbursement challan copy | ☐ | |
| 6 | Reconciliation of revenue with trade receivables and bank realization | ☐ |
14. Cost of Goods Sold / Manufacturing Expenses
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Cost of Fabric / Accessories & Spare Parts consumption — ledger and pre-cost sheet summary | ☐ | |
| 2 | Year-end stock report and customs/export form copy for in-transit goods | ☐ | |
| 3 | Manufacturing expenses breakdown: Salary & Wages, Festival Bonus, Overtime, Annual Leave Benefit — ledger, Form 108/108A, salary statement, challan, cheque | ☐ | |
| 4 | Gas & Electricity Bill, Insurance Premium (IAR) — supporting bills | ☐ | |
| 5 | Carriage Inward, C&F Charges, Repair & Maintenance, Lab Test Expenses — ledger and sample-basis vouchers | ☐ | |
| 6 | Opening/Closing Work-in-Process and Finished Goods reconciliation, including Form-C rebate | ☐ |
15. Administrative Expenses
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Salary & Allowance — salary statement, Form 108, challan copy | ☐ | |
| 2 | License, Registration & Renewal — ledger, agreement, TDS certificate/challan copy | ☐ | |
| 3 | Mobile Bill — ledger and sample-basis BRTA copy | ☐ | |
| 4 | Fuel for Vehicle — ledger and sample-basis bill copy | ☐ | |
| 5 | Postage & Courier — ledger and payment invoice | ☐ | |
| 6 | Legal & Professional Fees, Stationery, Retirement Benefit documents — supporting bills and TDS challans | ☐ |
16. Selling & Distribution Expenses
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Buying House Commission — ledger and sample-basis voucher | ☐ | |
| 2 | Discount of Invoice Bill — supporting schedule | ☐ | |
| 3 | Business Promotion Expenses (air ticket) — top sheet and vouchers | ☐ | |
| 4 | Carriage Outward — top sheet and vouchers | ☐ | |
| 5 | EXP/CO/GSP/BL/Stamp for export documents — supporting bills | ☐ | |
| 6 | TDS Challan for Buying House Commission, Stamp/Sample Expense, Carriage Outward | ☐ |
17. Financial Expenses
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Bank Interest — top sheet, bank statement, ledger | ☐ | |
| 2 | Bank Charges — full-year summary with acceptance/voucher support | ☐ | |
| 3 | Loan interest certificates from all lending banks | ☐ |
18. Textile Unit — Additional / Unit-Specific Items
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Capital Work-in-Progress schedule (Textile Unit — machinery installation in progress) | ☐ | |
| 2 | Security Deposit and Bank Guarantee schedule with agreements | ☐ | |
| 3 | FDR Interest Certificate | ☐ | |
| 4 | Group Insurance, Electricity Bill and WASA Bill — supporting documents | ☐ | |
| 5 | Software Service expense — invoice/agreement and TDS challan | ☐ | |
| 6 | Office Rent — TDS challan and rental agreement | ☐ | |
| 7 | Spare Parts consumption ledger | ☐ |
19. Income Tax & VAT Compliance — Supplementary Checklist
| SL | Document / Particulars Required | Provided (✓/✗) | Remarks |
| 1 | Deferred Tax computation/statement with supporting workings | ☐ | |
| 2 | Deposit Analysis statement (bank-wise, for total credit turnover reconciliation) | ☐ | |
| 3 | TDS on Employees’ Taxable Salary — statement and challan (Sec. 50) | ☐ | |
| 4 | TDS against Contractors/Suppliers — statement and challan | ☐ | |
| 5 | TDS against Fees for Professional/Technical Services — statement and challan | ☐ | |
| 6 | TDS on imported/local Plant & Machinery and other capital assets — statement and challan | ☐ | |
| 7 | AIT deducted at source on export proceeds, cash incentive and car registration — bank certificates | ☐ | |
| 8 | Minimum Tax basis workings (Section 163 / turnover tax, as applicable) | ☐ | |
| 9 | Tax depreciation (Third Schedule) working reconciled with accounting depreciation | ☐ | |
| 10 | Previous year’s assessment order / acknowledgement receipt (if any) and appeal status | ☐ | |
| 11 | VAT Return (Mushak 9.1) copies for the year with input-output VAT reconciliation | ☐ | |
| 12 | Withholding VAT deduction certificates | ☐ |
Prepared by (Ismail and Associates): ____________________________ Date: ______________
Received & Confirmed by (Client): ____________________________ Date: ______________
RELATED POSTS
View all
Comparative Statement of VDS & TDS as per Finance Act 2026
July 28, 2026 | by Mohmmed Ismail Miah
Financial Analysis Report For the Year Ended 30 June 2026
July 28, 2026 | by Mohmmed Ismail Miah