CA Aspire - Professional

ICAI Important Announcement

Sub. : *Internal Auditor not to undertake Goods and Service Tax (GST) Audit simultaneously*

We have received enquiries from the members at large and other stakeholders as to whether an internal auditor of an entity can also undertake GST Audit of the same entity as required under the Central Goods and Service Act, 2017.
The Council of the Institute, while considering the issue at its 378th Meeting held on 26th and 27th September, 2018, noted its earlier
decision taken at its 281st Meeting held from 3rd to 5th October, 2008, that internal auditor of an assesee, whether working with the organization or independently practising Chartered Accountant being an individual chartered accountant or a firm of chartered accountants, cannot be appointed as his Tax auditor (under the Income Tax Act, 1961).

Upon consideration, the Council has decided that based on the conflict in roles as statutory and internal auditor simultaneously, the bar on internal auditor of an entity to accept tax audit (under Income Tax Act, 1961) will also be applicable to GST Audit (under the Central Goods and Service Act, 2017).

Accordingly, it is clarified that an Internal Auditor of an entity cannot undertake GST Audit of the same entity.

CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to *15th Oct, 2018* for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018,after considering representations from stakeholders.

Liability to pay interest u/s234A of ITAct will remain

Last date for filing GSTR-1 for July 2017 to Sep 2018 extended till Oct 31