Reason for Removal of GST Audit:

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Reason for Removal of GST Audit:

 

Extract of GST Council Minutes Page No. 133 !! 
Agenda Item 5A(vi): Filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement):
1) A lot of negative feedback was received regarding filing of annual return and
reconciliation statement for FY 2017-18. Most of the feedback is on working of the IT portal.
2) Due date for filing Annual Return and Reconciliation statement for 2017-18 was extended 7 times.
3) t has also been reported that the cost of compliance for filing of Annual Return and Reconciliation has been high especially for smaller taxpayers since this process requires engagement of a tax professional (Chartered Accountant or Cost Accountant) who reportedly insist that they should be engaged for the entire compliance management process throughout the year thus pushing the cost of compliance.
4) It is seen that additional tax of about Rs. 3176 Crores (Rs. 2079 Cr. In cash) additional tax and Rs. 575.76 Cr. interest thereon got collected from Annual Return GSTR-9.
5) Additional revenue from GSTR-9C based 011 the Auditor’s recommendations has been relatively low at Rs. 392 Cr. (Rs. 261 Cr. in cash) and Rs. 81.16 as interest.
(Production linked incentive.. PLI implemented by Govt on GST AUDITS)

 

 

 

 

 

 

 

 

 

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