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Question ID : 38124

GST AUDIT

WHETHER GST AUDIT UNDER IS EXEMPT FOR GOVERNMENT COMPANIES THOSE ARE SUBJECT TO CAG AUDIT AS PER PROVISO UNDER GST AUDIT.

Posted by CA ARPIT KEDIA on May 03, 2019

Filed Under GST

Answer ID : 76532

No. The proviso is applicable only to Dept. of Central/State Govt. or local authority whose accounts are subject to CAG Audit. Government Companies are not covered in it. So GST audit is applicable to Govt. companies.

Posted by CA. chunauti dholakia on May 03, 2019
Answer ID : 76539

Yes Government companies are exempt from GST Audit . As we know that Govt companies (where 51% or more holding lies with Govt, eg PSUs) accounts are required to be audited by Comptroller and Auditor-General of India under section 139 of the companies Act 2013, so they are exempted from GST audit requirement u/s 35(5) of CGST Act 2017.

Posted by CA. BISHT RAKESH on May 07, 2019
Answer ID : 76547

AS PER THE AMMENDMENT TO SEC35(5), GOVT. DEPTS SUBJECT TO AUDIT BY C&AG ARE EXEMPTED FROM GST AUDIT. PUBLIC SECTOR UNDERTAKINGS ARE COS HAVING 51% OR MORE SHARES HELD BY EITHER CENTRAL/ STATE GOVT. STRICTLY SPEAKING, THESE PUBLIC SECTOR COS ARE NOT GOVT. DEPTS. BUT NACIN HAS IN A PRESS RELEASE OPINED THAT PUBLIC SECTOR UNDER TAKING SUBJECT TO C&AG AUDIT NEED NOT FURNISH GSTR9C.

Posted by CA. VENKITARAMAN K V on May 08, 2019