CBDT further defers Clause 30C (GAAR)/ Clause 44 (GST) of Revised 3CD upto 31 March 2020

CBDT further defers Reporting Requirements of Clause 30C (GAAR) and Clause 44 (GST) under Revised Tax Audit Report Form 3CD upto 31 March 2020 (dt. 14 May 2019)

CBDT has notified that requirement for reporting relating to Clause 30C (GAAR) and Clause 44 (GST) of the Revised Tax Audit Report Form 3CD has been further deferred upto 31 March 2020. It may be noted that CBDT has earlier also deferred implementation of these clauses from 20 Aug. 2018 to 31 March 2019 in view of representations from stakeholders, like ICAI, etc.

In other words, CBDT has deferred implementation of certain changes notified in Form 3CD on 20 July 2018 (applicable from 20 Aug. 2018) upto 31 March 2020, i.e. changes relating to two new reporting requirements under ‘clause 30C pertaining to GAAR’ and ‘clause 44 pertaining to GST’ and hence the Tax Auditors, have been further relaxed from reporting such details while furnishing Form 3CD during 20 Aug. 2018 to 31 March 2020.

However, it may be noted that relief from reporting GST details in Form 3CD is applicable only for taxpayers those who are liable to tax audit, i.e. this relief has nothing to do with ITR Form 6 requiring a company, which is not subject to tax audit, to give various details relating to GST.

Clause 30C (GAAR) and 44 (GST) of Revised 3CD further deferred upto 31 March 2020: CBDT Circular 09/2019 Income Tax dt. 14 May 2019 

Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires specified persons to furnish the Tax Audit Report along with the prescribed particulars in Form No. 3CD. The existing Form No. 3CD was amended vide notification no. GSR 666(E) dated 20th July, 2018 with effect from 20th August, 2018. However, the reporting under clause 30C and clause 44 of the Tax Audit Report was kept in abeyance till 31st March, 2019 vide Circular No. 6/2018 dated 17.08.2 018.

Representations were received by the Board that the implementation of reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD may be deferred further.

The matter has been examined and it has been decided by the Board that the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2020.

CBDT defers Clause 30C and 44 (GST) of Revised Form 3CD upto 31 March 2019 (dt. 17 Aug. 2018)

The CBDT has issued a Circular to defer implementation of Clause 30C on GAAR and Clause 44 on GST, of the Revised Tax Audit Report Form 3CD upto 31 March 2019, from 20 Aug. 2018 as notified earlier on 20 July 2018. Accordingly, this partial deferment of amendments will not affect other changes made in Form 3CD applicable from 20 Aug. 2018.

Clause 30C (GAAR) and 44 (GST) of Revised 3CD deferred upto 31 March 2019: CBDT Circular No. 6/2018 Income Tax dt. 17 Aug. 2018

Related Posts:

Revised Forms 3CA, 3CB, 3CD: Tax Audit Report FY 2017-18/ AY 2018-19

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