An online audit procedure under the GST shall be set up by the union government for facilitating the procedure as recommended via a parliamentary panel in its report on the anti-competitive practices by the big tech firms.
The suggestion for the creation of an online audit tool has been approved by the ministry. The committee anticipates that the ministry will take this matter seriously in an effort to further streamline the GST audit procedure. The standing committee on finance stated in its report that it would want to be informed of the project’s outcomes when submitting the final action taken statement.
The GST Audit Manual, which lists the standard forms and documentation needed to perform an audit, was released by the Central Board of Indirect Taxes and Customs. Email can be used to submit copies of the paperwork and records that must be turned in for the audit. Following that, if the taxpayer needs clarification, it may be supplied through email.
The corporate affairs ministry responded to the panel’s recommendation by stating that from a systems perspective, the current audit functionality makes it possible to conduct the audit online, allowing both the taxpayer and the tax officer to upload the necessary documents for further review.
Read Also: Official GST Audit: Risks, Essential Document & Helpful Tips
The advice was made in light of the worries over GST audits, where taxpayers are required to provide a substantial amount of documentation in order to perform an audit. Additionally, the assessees are also required to attend in person at the GST offices, which takes a lot of time for both the assessees and the authorities.
The panel recommended the online audit procedure under GST so as to make the procedure more efficient and less interrupted.
A white list of the documents needed to undertake an online audit, which would serve as a guide for officers and the assessee, has been requested by the legislative panel.
The committee has proposed a few actions in addition to placing CCTV cameras in the interrogation room in order to stop the harassment of truthful taxpayers during searches and seizures. According to the article, CBIC has been directed to do this by the corporate affairs ministry.
