UP GST Act 2008 Rule 43 of UP GST Rules 2008

UP GST Act 2008

Rule 43 of UP GST Rules 2008

Tax Audit by departmental authorities

(1) For the purposes of examining the correctness of tax return or returns filed by the dealers or class of dealers and to verify the admissibility of various claims including claim of input tax credit, the Commissioner or any officer sub ordinate to him not below the rank of Joint Commissioner may select the dealers or class of dealers for tax audit by departmental authorities.

(2) The tax audit authority shall be posted or nominated by the Commissioner and shall be among the officers of the Commercial Tax Department not bellow the rank of an Assistant Commissioner.

(3) The Commissioner shall prescribe the modalities, manners and norms for selection and audit of dealers or class of dealers from time

Section 21(17) of UP GST Act 2008

Accounts and documents to be maintained by dealers

(17) If in respect of any particular assessment year, gross turnover of purchase or sale or both, as the case may be, of any dealer exceeds rupees one crore, then such dealer shall get his accounts verified and audited by a specified authority within six months from end of that assessment year and obtain within that period a report of such audit in the prescribed form duly signed and verified by such specified authority along with such particulars as may be prescribed. A true copy of such report shall be furnished by such dealer to the assessing authority within such period as may be prescribed.

Explanation: For the purpose of this section, expression “specified authority” means-

(i) a Chartered Accountant within the meaning of the Chartered Accountants Act, 1940 and includes persons by virtue of provisions of sub-section (2) of section 226 of the Companies Act, 1956, is entitled to be appointed to act as an auditor of companies;

(ii) a Cost Accountant within the meaning of the Cost and Works Accountant Act, 1959;

 

Section 24(7) of UP GST Act 2008

Submission of Tax Returns

(7) Every taxable dealer, including a dealer who has carried on business during part of an assessment year, shall, for such assessment year or for part of such assessment year, as the case may be, submit annual tax return of turnover and tax within such time and in such form and manner, as may be prescribed.

Provided that on the application of the dealer, in an appropriate case, the assessing authority may extend the period for submitting annual tax return but such extended period shall not exceed ninety days beyond the time prescribed for submitting such tax return.

Rule 42 of UP GST Rules 2008

Audit by specified authority

 (1) Audit report referred to in sub-section (17) of section 21 shall be submitted by the dealer referred to in that subsection to his assessing authority in Form XXIII along with the annual return of turnover and tax referred to in sub-section (7) of section 24.

(2) In the report, prepared by the authority referred to in sub-section (17) of section 21, the authority shall mention names of books of account and nature of documents which are produced before him for audit and which were audited by him. He shall give a precise note about the manner in which the same have been maintained.

(3) The specified authority, who has made audit, shall audit the accounts and documents with a view to ascertain the claim of input tax credit and reduction in the input tax credit on account of reverse input tax credit.

(4) The specified authority shall, in its audit report, indicate whether or not the dealer has computed amount of reverse input tax credit in accordance with provisions of the Act and these rules and Inventories prepared are in accordance with provisions of these rules.

[Explanation :- For the purposes of this rule, gross turnover of purchase or sale or both, as the case may be, shall mean the aggregate of:-

1. Turnover of purchase of goods liable to tax under section 5,
2. Turnover of sale of goods other than goods covered under clause (a) above, where such sale is:
   1. inside the state; or
   2. in the course of inter-state trade or commerce; or

• in the course of export of the goods out of the territory of India; or

1. in the course of import of goods into the territory of India;

1. sale of goods outside the State.]

Section 2(1)(b) The Chartered Accountant 1949

“Chartered accountant” means a person who is a member of the Institute.

Section 2(1)(b) Cost And Works Accountants Act, 1959.

“Cost accountant” means a person who is a member of the Institute.

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