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CBDT again defers GST Reporting in Tax Audit Report
May, 16th 2019

The Central Board of Direct Taxes ( CBDT ) has extended the due date for filing Form 3CD for the second time the requirement for companies to include in their tax audit report the details of Goods and Services Tax (GST) and GAAR.

Tax Auditors of a certain class of Assessees shall file Form 3CD in the prescribed format. Presently, the companies that are not subjected to tax audits are required to furnish GST details. The Central Government, on 20th July, has revised Form No. 3CD and extended the scope of tax audit cases.

Form 3CD is a Form in accordance with Rule 6G(2) and Section 44AB of the Indian Income Tax Act, 1961. The Form is a part of the process of filing Income Tax Returns in India and is an Annexure to the Audit Report. Form 3CD contains 32 Clauses. It is required to be attached with Forms 3CA or 3CB, as applicable.

The reporting requirement of these details in income tax audit form has been kept in abeyance till March 31, 2020 — meaning that all income tax audit reports need not include details on GST and General Anti-Avoidance Rules (GAAR) till March 2020.

Business entities having a turnover of more than ?1 crore (or?2 crore if they have opted for presumptive taxation) and professionals with gross receipts of more than ?50 lakh have to comply with the tax audit requirements.

The due date for its filing is September 30 and if the taxpayer is covered by transfer pricing provisions, the due date is November 30.

The CBDT order last day said that the Board has received representations that implementation of reporting requirements under clause 30C (pertaining to GAAR) and clause 44 (pertaining to GST compliance) of the Form No 3CD may be deferred further.

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