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Reporting of GAAR, GST details in tax audit report deferred till March 2021

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Central Board of Direct Taxes (CBDT) has issued Circular No. 10/2020 dated April 24, 2020 by which the CBDT has deferred the applicability of certain Clause of Form 3CD (Tax Audit Report) till March 31, 2021.


Tax Audit Report i.e. Form 3CD :  Applicability of Clause 30C & Clause 44 deferred till March 31, 2021

This is the third time the reporting of GST and General Anti-avoidance Rule (GAAR) details have been deferred. The GST and GAAR related details were first supposed to be reported on August 20, 2018. However, it kept getting deferred and was supposed to be reported from April 1, 2020. Now, due to the coronavirus outbreak, taxpayers who are supposed to file audit reports get a breather of another year.

Tax Audit Report

Businesses having gross turnover of more than Rs 1 crore (or Rs 2 crore if they have opted for presumptive taxation) and professionals with gross receipts of more than Rs 50 lakh have are supposed to file tax audit report.The due date for its filing is September 30 and if the taxpayer is covered by transfer pricing provisions, the due date is November 30.



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