Ratlam: Meeting organised to discuss tax audit

Ratlam (Madhya Pradesh): Kar Salahkar Parishad (KSP) organised a study circle meeting on the subject of “Special points in performing Tax Audit and reporting of important clauses in Tax Audit report”.

The chief speaker of the meeting was senior Chartered Accountant Navin Pokharna. While speaking Pokharna said that in the tax audit report proforma point No. 44 has been added for the IT Assessment year 2022-23 in which detailed information is required to be reported about the GST in the tax audit report.

He said that it will be a difficult task practically to provide the required detailed information in the tax audit report like whether goods were purchased from a registered dealer or under a composition scheme etc. Pokharna said that the new clause No 44 of the tax audit report about form No 3 CD has started creating panic in the mind of the taxpayers also. He cited an example that clause 44 of form No.3CD requires reporting of the total amount of expenditure incurred during the previous year vis-a-vis those relating to goods or services exempt from GST also. He said that the taxpayer will have to maintain and produce all the required details for the tax audit purposes and at the same time the auditor will have to take all possible precautions while finalising the tax audit report.

President of KSP Anchal Moonat, senior members S L Chaplot, Kishor Pathak, Sandeep Moonat, PushprajChhajlani, JitendraKaswa, Vishal Joshi and members of the Kar Salahkar Parishad were present at the meeting.