Indore (Madhya Pradesh): As the entire GST administration is being computerised and the system works on online mode, the need to submit audit reports manually should now be replaced with computerised audit, submitted online. This will be a major relief for the taxpayers as well as for the CAs, said GST experts at a seminar organised by Tax Practitioners Association (TPA) and Indore CA Branch here on Friday.
The subject of the seminar was ‘Tax Audit through Computer’ and ‘Clause 44’. Atur Khandelwal and Kirti Joshi were the keynote speakers of the seminar.
Joshi said looking at the kind of expenses that have been sought in the reconciliation tax audit report; it seems that there will be a lot of scrutiny cases in the coming days. Because now the trader will have to give information about how much he has paid, how much business has been done with the registered, composition and unregistered trader in GST. This would be a problem for the taxpayers whose expenses are mostly with the unregistered dealer. Thus, there will be a strong possibility of getting notice from the department. The major practical problem being faced by the trader is that they don’t keep records according to the information given. This makes it difficult for a CA to provide the information sought in the tax audit report. Hence, it is necessary that the trader take utmost care before presenting his records before the CA.
Aatur Khandelwal stated that many types of reports can be generated through tele. Things like stock items, balances, periodic payments, cash withdrawal, holiday expenses etc. can be generated very easily. Therefore, it is necessary that instead of manual audit, audit through computer should be done, so that there is no possibility of mistake.
Earlier, TPA president Shailendra Singh Solanki gave the welcome address. The seminar was conducted by Abhay Sharma, honorary secretary, TPA. The vote of thanks was given by Amitesh Jain.