5 views
15 Important Points of GST in Income Tax Audit to be Taken Care Off!
Karneeti Part 366- CA Umesh Sharma
Arjun (Fictional Character): Krishna, why taxpayers and professionals are very busy these days in Dec 2020?
Krishna(Fictional Character): Arjuna, After the relief of Corona now tax audit season is approaching. 31st December 2020 is the due date of the audit of Income-tax audit for AY 2020-21. Further assesses who are not under audit also need to file their Income tax returns before 31st Dec to avoid late fees. Also, 31st December 2020 is the due date for filing of GST Audit and the annual return of FY 2018-19. Thus taxpayers should take care of GST as well as Income tax both.
Arjun(Fictional Character): Krishna, What are the important points of GST which are to be remembered while doing Tax Audit under Income Tax Act, 1961?
Krishna(Fictional Character): Arjuna, the following are few important points of GST which shall be checked while doing Income Tax Audit and filing form 3CD:
Clause 4: The GST number of the assessee should be reported in clause 4 of the Tax Audit Report (TAR)
Clause 10(b): Taxpayers should keep in mind that the nature of business as reported in this clause and as shown at the time of GST registration are in the same line. IF there is any change in the nature of business then GST...
Arjun (Fictional Character): Krishna, why taxpayers and professionals are very busy these days in Dec 2020?
Krishna(Fictional Character): Arjuna, After the relief of Corona now tax audit season is approaching. 31st December 2020 is the due date of the audit of Income-tax audit for AY 2020-21. Further assesses who are not under audit also need to file their Income tax returns before 31st Dec to avoid late fees. Also, 31st December 2020 is the due date for filing of GST Audit and the annual return of FY 2018-19. Thus taxpayers should take care of GST as well as Income tax both.
Arjun(Fictional Character): Krishna, What are the important points of GST which are to be remembered while doing Tax Audit under Income Tax Act, 1961?
Krishna(Fictional Character): Arjuna, the following are few important points of GST which shall be checked while doing Income Tax Audit and filing form 3CD:
Clause 4: The GST number of the assessee should be reported in clause 4 of the Tax Audit Report (TAR)
Clause 10(b): Taxpayers should keep in mind that the nature of business as reported in this clause and as shown at the time of GST registration are in the same line. IF there is any change in the nature of business then GST...
