Tax audit extension

Yes. It should be entended due to professionals & tax consultants are very much busy in GST return filing & other GST compliances...

I don't think it should be extended as mentally, we are all prepared for 31/10. If it is extended to a further date, all the work will again be pending and on top of that, we have the evergreen and all percolative GST Returns to be filed. Burden will increase, rather work hard for the next 4 days and finish all the tax audits somehow.

Yes. It should be entended due to professionals & tax consultants are very much busy in GST return filing & other GST compliances...

DUE TO GST IMPLMENTATION THE WORK LOAD OF THE ACCOUNTANTS INCREASED 

HENCE COULD NOT CONCENTRATE ON AUDIT FINALISATION AND COPE UP WITH AUDITOR REQUIREMENTS.

yes sir, due to GST due dates altered by GST Department.

Let me illustrate the need for extension in the following headings

1) Clients Attitude:

Clients are used to come at the last minute and being CA's we are not getting enough time to comment on their financials, most of them are just coming with the trail balance and if we ask any information then the same gets postponed and will not get filed, CA's should remind the client and follow it up which is not possible at this moment

2) ROC dates

AOC-4 on XBRL that too with IND AS is postponed how about the rest, which means we should bring the directors of the company and ask them to wait and sign in front of us, prepare finalize scan and submit again, even most of the auditors wouldn't have done ADT-1 it self

3) GST Dates

31st is for GSTR 2 as every one know and we can remember that GSTR 1 is stopped for some time after Oct 10th so we need to file the GST first and next Tax audit or a dilemma has been created

clients are clue less on whats happening , they comment on CA's saying " Mera CA kar raha hein kuch tho Be", So CA's gets comments now for the hard work

4) TDS Due Date

most of them have forgotten that TDS returns also to be filed in the mean time, if we ask the client again the same data he will be puzzled with a huge confusion

5) HSN problems

Clients never new that there is something called as HSN most of them doesnt have a proper software to figure out huge sale one of my client has a turnover of 5 crores per month and he is very expert in maintaining manual records and he never likes softwares

even after several advices he just started tally and he is getting irritated with the system and he is now sleeping in my office since three days, yet he is able to complete only 50Lakhs for HSN summary ( he sells wide range of products)

6) ICDS,AMT,MAT:-

This is altogether a different excercise, when data is not fully available how could we comment on ICDS properly, Sir being CA's we are ready to follow all rules but client is not ready

7) Flooding of GST dates in the current month

lot of GST dates are flooded, previously clients used to fight with their suppliers or debtors for their receivables or payments, now amazingly they are fighting for " Arey mera GST Credit Kab Dhega" ? " Nayi Dikh Raha hein idhar" , " Mujey patha nayi mera auditor bola thum nayi kiya, bus thum nayi kiya" 

amazingly i here a latest wording from a client " Arey Rukh mein na therey upar case dalunga GST Credit keliye"

i am illustrating these because Clients are interacting with us not Higher authorities ( not to take in another sense), i mean to say whats happening arround

8) GST Updates in twitter

GST is getting updated in twitter, rather than in govt sites, so we need to check the twitter, official sites, and other sites,

9) Confusion

by all the above steps Clients are now puzzled previouly they used to concentrate on business ( 90%) and paper work ( 10%) but now its vice versa as for as my experience is concerned

All these are my personal opinions and i personally opine that Tax audits to be revised for a reasonable period

Thanks

CA K Srujann Kumar Reddy

Chartered Accountant

YES ITAX SHOULD EXTENEDED AS SOON AS POSSIBLE

Yes tax audit should be extended because lot of time required for attending GST and  ETDS work along with tax audit.

Yes it should be extended

It is possible..........

Pls. also  think  of  Form  WW - which has to be submitted before 31st of Dec.2017  for the FY  2016 - 17.

YES IT SHOULD BE EXTENDED FOR ONE MONTH, BECAUSE OF GST FILING

Yes Ofcourse!! It should be extended, as we are not having time because of GST Returns.