Reporting of GAAR, GST details in the tax audit report have been kept in abeyance till March 2021

The Central Board of Direct Taxes vide its circular dated 24th April 2020 has deferred the reporting requirements of revised Tax Audit Report Form 3CD, relating to Clauses 30C (GAAR)/ 44 (GST), up to 31 March 2021, in view of the outbreak of COVID-19 pandemic.

Business entities having a turnover of more than ₹1 crore (or ₹2 crores if they have opted for presumptive taxation) and professionals with gross receipts of more than ₹50 lakh have to comply with the tax audit requirements. 

Since the board has received representations with regard to difficulty in complying with reporting requirements under clause 30C (pertaining to GAAR) and clause 44 (pertaining to GST compliance) of the Form No 3CD of the Income Tax Rules 1962, in view of the global pandemic due to COVID-19. Therefore the board had deferred its implementation till March 31, 2021.

Click here to read the Notification.