CBIC via Notification No. 29/2021-Central Tax dt 30th July 2021 notifies 1st August 2021 as date on which Sec. 110 and Sec. 111 of Finance Act, 2021 shall comes into force.

Sec. 110 of the Finance Act, 2021 deals with omission of Sec. 35(5) of the CGST Act, 2017 which provides for audit of accounts by a Chartered Accountant under GST law.

Sec. 111 of Finance Act, 2021 deals with amendment in Sec. 44 of CGST Act, 2017 which provides for submitting a self-certification reconciliation statement under GST law. Sec. 44 of CGST Act, 2017 shall be read as under:

"44. Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the audited annual financial statement for every financial year electronically, within such time and in such form and in such manner as may be prescribed; 

Provided that the Commissioner may, on the recommendations of the Council, by notification, exempt any class of registered persons from filing annual return under this section; 

Provided further that nothing contained in this section shall apply to any department of the Central Government or a State Government or a local authority, whose books of account are subject to audit by the Comptroller and Auditor-General of India or an auditor appointed for Annual return. auditing the accounts of local authorities under any law for the time being in force.”


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