Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company
 
 
From the Courts »
 M/s Fiberfill Engineers Vs. Deputy Commissioner Of Income Tax
 Commissioner Of Income Tax, Del Vs. Mrs. Tara Sinha
 Unitech Wireless (Tamil Nadu) Pvt. Ltd. Vs. Principal Commissioner Of Income Tax, New Delhi & Ors.
 Pr. Commissioner Of Income Tax – 3 Vs. Delhi State Industrial Infrastructure Development Corp. Ltd.
 CIT vs. D. K. Garg (Delhi High Court)
 The Citizens Cooperative Society Ltd vs. ACIT (Supreme Court)
 Digipro Import & Export Pvt. Ltd vs. UOI (Delhi High Court)
  CIT vs. Hindustan Petroleum Corporation Ltd (Supreme Court)
  DCIT vs. Hita Land Private Limited (ITAT Mumbai)
 GTC Industries Limited vs. ACIT (ITAT Mumbai) (Special Bench)
 Premlata Purshottam Paldiwal vs. CIT (Bombay High Court)

Only CAs can audit, certify sales tax returns: SC
May, 17th 2008

The Supreme Court on Tuesday upheld the order which had said that only chartered or cost accountants will be eligible to audit and certify sales tax returns. The decision will affect lawyers specialising in sales tax laws and former sales tax officers who work as sales tax practitioners.

A bench comprising Justice H K Sema and Justice Markenday Katju dismissed the petitions filed by the Sales Tax Practitioners Association of Maharashtra and the Bar Council of Maharashtra. It upheld Bombay high court order which had said that only chartered accountants or cost accountants would be eligible to certify sales tax returns.

The high court while upholding an amendment to Maharashtra Value Added Tax Act had observed that the objective is to facilitate prevention of evasion of tax. The Act makes it mandatory for traders with annual sale of over Rs 40 lakh to file sales tax returns verified only by chartered or cost accountants.

Earlier, traders had to hire only sales tax lawyers or former sales tax officers as advisers in tax matters. But a recent amendment to the Act made it mandatory for traders with sale of over Rs 40 lakhs to get their accounts audited and certified only by a chartered or cost accountant.

The amendment specifies that only a CA can audit the account and allows lawyers and other sales tax practitioners to represent traders before sales tax commissioner and tribunals, but specifically bars them from auditing accounts.

According to the high court, as per the Advocates Act, 1961, advocates can only practice law, and that prevents them from working as an auditor. The petitioners claimed that this restraint violated right to equality enshrined in the constitution and would force traders to cough up extra money for engaging CAs or cost accountants. Holding that advocates and other sales tax practitioners were not qualified for this job, the high court had said, auditing is a specialised job which can be undertaken by the person professionally competent and trained to audit.

ORDER

Decision will affect lawyers specialising in sales tax laws and former sales tax officers who work as tax practitioners

The Act makes it mandatory for traders with annual sale of over Rs 40 lakh to file sales tax returns verified only by CAs or cost accountants

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions