Reporting of GST, GAAR details in tax audit report deferred till Mar 2019
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India’s direct taxes body has deferred till March 31, 2019, the proposed Goods and Services Tax (GST)and General Anti Avoidance Reporting under the amended tax audit form. The Central Board of Direct Taxes has issued a circular to this effect following representations from the industry.
The board has clarified that tax auditors will not be required to furnish details called for under Clause 30C and Clause 44 of tax audit report, relating to GAAR and GST.
“The matter has been examined and it has been decided by the Board that reporting under the proposed Clause 30C and proposed Clause 44 of the Tax Audit Report shall be kept in abeyance till March 31, 2019,” it said in a circular. Industry was worried about the provisions particularly one related to GAAR.
The new form provided for auditors to determine if any transaction was an impermissible arrangement, which put the responsibility of tax officer on an auditor. #casansaar (Source - PTI, Economic Times)
CLICK HERE FOR CIRCULAR
The board has clarified that tax auditors will not be required to furnish details called for under Clause 30C and Clause 44 of tax audit report, relating to GAAR and GST.
“The matter has been examined and it has been decided by the Board that reporting under the proposed Clause 30C and proposed Clause 44 of the Tax Audit Report shall be kept in abeyance till March 31, 2019,” it said in a circular. Industry was worried about the provisions particularly one related to GAAR.
The new form provided for auditors to determine if any transaction was an impermissible arrangement, which put the responsibility of tax officer on an auditor. #casansaar (Source - PTI, Economic Times)
CLICK HERE FOR CIRCULAR
Category : Tax Audit | Comments : 0 | Hits : 1166
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