Gst audit scrapped?

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Student CA Final
29 Points Posted on 01 February 2021
is it true that gst audit is scrapped
in budget today?
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On 01 February 2021 at 14:07 Report
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The mandatory requirement for businesses to get their annual accounts audited and submit a reconciliation statement appears to have been scrapped in the latest budget. Clause 101 of the Bill proposes to remove this obligation from the Central Goods and Services Tax Act. However, the exact date when this change will come into effect is yet to be confirmed via notification.

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Chartered Accountant
1077 Points Posted on 01 February 2021

Clause 101 of the Bill seeks to omit sub-section (5) of section 35 of the Central Goods and Services Tax Act so as to remove the mandatory requirement of getting annual accounts audited and the reconciliation statement submitted by specified professional.

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On 01 February 2021 at 15:22
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261 Points Posted on 01 February 2021
Still the date of effectiveness yet to come through notification
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On 01 February 2021 at 15:45

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