GST Audit scrapped as Budget omits section 35(5) from GST Act

Last updated: 01 February 2021

Quick Summary
The recent Budget has led to the scrapping of the mandatory GST Audit. This change comes as section 35(5) of the GST Act, which mandated these audits, has been omitted. The move allows for self-certification, potentially simplifying compliance for businesses.

GST Audit scrapped as Budget omits section 35(5) from GST Act to allow self certification.

Below is the updated amendment 

GST Audit scrapped as Budget omits section 35(5) from GST Act

FAQ :

The GST Audit has been scrapped because section 35(5) of the GST Act, which mandated it, was omitted from the Act in the recent Budget.

The omission of section 35(5) allows for self-certification instead of a mandatory GST Audit.

The GST Audit requirement was removed following the recent Budget.

This change potentially simplifies compliance for businesses by allowing self-certification.



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