Menu
internal audit
whether internal audit can undertake Gst audit
Replies (3)
No....
Internal Auditor cannot undertake GST Audit u/s 35(5) read with Rule 80(3).
Internal Auditor cannot undertake GST Audit u/s 35(5) read with Rule 80(3).
The Institute of Chartered Accountants of India (ICAI) has clarified that an internal auditor in a company cannot undertake GST audit of the same entity, citing the issue of conflict of interest.
"The (CA Institute) Council has decided that based on the conflict in roles as statutory and internal auditor simultaneously, the bar on internal auditor of an entity to accept taxaudit (under Income Tax Act, 1961) will also be applicable to GST Audit (under the Central Goods and Service Act, 2017)," The ICAI said. "Accordingly, it is clarified that an internal auditor of an entity cannot undertake GST audit of the same entity."
"The (CA Institute) Council has decided that based on the conflict in roles as statutory and internal auditor simultaneously, the bar on internal auditor of an entity to accept taxaudit (under Income Tax Act, 1961) will also be applicable to GST Audit (under the Central Goods and Service Act, 2017)," The ICAI said. "Accordingly, it is clarified that an internal auditor of an entity cannot undertake GST audit of the same entity."
very good shivam absolutely correct no internal auditor cannot undertake GST Audit u/s 35(5) rad with Rule 80(3)
Recent Topics :
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
- Error - Blank Rows in Schedule SI (ITR-2)
Related Topics :
CAclubindia
