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Based on the Companys assessment and prevailing law, the Company is hopeful of a favourable outcome at the appellate level and does not expect the said Order to have any material financial impact on the Company, Vedanta said. ....
The recommendation was made in view of the concern with respect to audit in GST under which a large number of documents are being sought from taxpayers for conducting an audit ....
February 10, 2021 Atul Kumar Gupta, outgoing President of ICAI× The CA Institute has knocked the doors of the Prime Minister’s Office and the Finance Minister seeking a withdrawal of the Budget proposal to do away with mandatory annual audit and reconciliation statement certification by a chartered accountant in respect of Goods and Services Tax (GST). The Budget has in an apparent business-friendly move proposes to amend the Central GST law to allow filing of annual returns on a self-certification basis. It has also empowered the commissioner to exempt a class of taxpayers from filing of annual returns. This Budget proposal has left the chartered accountants fraternity in a state of shock, prompting the CA Institute to demand a rollback of the move. ....