In a major relief to the non-salaried taxpayers, the Central Board of Direct Taxes ( CBDT ) has postponed the implementation of proposed GST and GAAR reporting under the amended tax audit form.
This relief would be available for tax audit reports to be furnished on or after August 20 but before April 1, 2019, the Board said in a statement on Friday.
The Board had been received representations requesting to postpone the same and the implementation of the reporting requirement under the proposed Clause 30C (pertaining to General Anti-Avoidance Rules or GAAR) and the proposed Clause 44 (pertaining to Goods and Services Tax compliance) of the tax audit Form No 3CD may be deferred.
The newly revised Form 3CD was released last month.
“The matter has been examined and it has been decided by the Board that reporting under the proposed Clause 30C and proposed Clause 44 of the Tax Audit Report shall be kept in abeyance till March 31, 2019. Therefore, for Tax Audit Reports to be furnished on or after August 20, 2018, but before April 1, 2019, tax auditors will not be required to furnish details called for under the two clauses,” the CBDT circular said.
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