Center Not to Remove GST Audit Provisions by Authorize Professionals, Said BVSS

The Tax Professionals Body Bhartiya Vitta Salahakar Samiti (BVSS) said in the media to the government to not remove the procurement of “GST Audit by audit professionals” that is Chartered Accountants (CAs) and Cost and Management Accountants (CMAs).

The Society during showing the plan of the decision of the government stated that the grounds of the decision opted through the government looks to be the considerable object of the GST liability discharged through the enrolled assessees vide DRC-03 form Get to know about form GST DRC-03 for voluntary and SCN payments. Also, we have published the process of voluntary payment on GST portal with DRC-03 FAQs. Read more during the period of furnishing the yearly returns, is furnished by them suo-moto

“Contrary to this, the fact is that the said tax paid by the taxpayers and shown along with GSTR-9 is a result of hand-holding by the professional performing GST audit. The shortcomings which are found in the records of the taxpayer at the time of the annual audit are informed to the taxpayer by the auditor concerned and the same is reflected by them in the annual return filed by the taxpayers in GSTR-9 A simple guide to GSTR 9 (GST annual return form) online filing procedure with due dates. We attached all screenshots and divided into 19 sections. Read more ,” said the journalists.

This will assist the government to obtain the revenue on time along with the assistance to the assessee to paying all the liabilities in the mentioned duration.

BVSS proposes that the settlement of the GST returns Get to know the online procedure of filing GST return in India. Also, we provide each and every GST form according to the taxpayers’ category. Read more through the audited financial records is a difficult objective and urges lots of responsibilities that can be finished only by the qualified professionals who possess deep knowledge of the financial statements and accounting skills as also the GST law.

BVSS said that through the professionally productive and examined reconciliation statements the revenue can obtain the structured information, assisting the officials to build their task much more excellently. Hence the professional from the audit dept depicts a link between the government as well as the industry.

“It is the audit/tax professionals who get the compliance done. BVSS also feels that by removing the provisions of audit by the audit professionals, there shall be significant adverse impact on revenue and sharp drop in compliance levels.” commented BVSS.

Thus BVSS recommended that the procurements of the GST audit through the audit professionals must not get rejected.