Chartered Accountant (CA) Cannot Certify ITR
As per Frequently Asked Questions (FAQs) issued by Institute of Chartered Accountants of India ( ICAI ) relating to Unique Document Identification Number (UDIN) said that
"For the certification of ITR, Members are not authorized to certify ITR as a true copy. However, they can make an opinion/ certificate/ report about ITR based on its source, location and authenticity of data from which ITR is being prepared and UDIN is required while doing so."
The attached format can be used for Certification of ITR
PRACTITIONER’S REPORT ON INCOME TAX RETURNS AND PROFIT & LOSS
ACCOUNTS AND FINANCIAL STATEMENTS
1. This Report is issued in
accordance with the terms of our engagement letter by
2. The accompanying Income Tax
Returns, Computation of Income and Profit and Loss Account and Financial
Statements for financial years ended 31/03/2017
and 31/03/2018 and 31/03/2019 are prepared from trial
balance produced before us for the respective years which are prepared from
unaudited books of account.
3. The preparation of the
Statement is the responsibility of the Management of business of
__________________________ including the preparation and maintenance of all
accounting and other relevant supporting records and documents. This
responsibility includes the design, implementation and maintenance of internal
control relevant to the preparation and presentation of the Statement and
applying an appropriate basis of preparation; and making estimates that are reasonable
in the circumstances.
4. Our responsibility is to
provide a reasonable assurance whether: The Income Tax Return copy attached is
same as filed on the website of Income tax Department and the Profit and Loss
Account and Balance Sheet are prepared as per the closing balances appearing in
the trial balance produced before us for the respective financial years.
5. Based on our examination, as
above, we are of the opinion that:
a. ITR-V copy attached is same as
filed on the website of Income tax Department
b. Profit and Loss Account and
Balance Sheet are prepared as per the closing balances appearing in the trial
balance produced before us for the respective financial years.
6. The certificate is addressed
to and provided to __________________________ solely for the purpose to enable
comply with requirement of Loan Document and to submit the accompanying
Statement to ___________ Bank Limited, and should not be used by any other person
or for any other purpose. Accordingly, we do not accept or assume any liability
or any duty of care for any other purpose or to any other person to whom this
certificate is shown or into whose hands it may come without our prior consent
ITR-V, Profit and Loss Account
and Balance Sheet for financial years ended 31/03/2017 and 31/03/2018 and
31/03/2019 UDIN: ____________________________ Date: __________ Place: _________
Partner CA ___________________
Note on ITR V and P&L, BS after every stamp and Sign of CA and Date
“As per our Practitioner’s Report
attached of even date under UDIN: ______________”
of the GST Council, New Delhi
(Law and Procedure
The GST Council,
in its 39th meeting held on 14.03.2020, has made the following
for Trade facilitation:
for delay in payment of GST to be charged on the net cash tax liability w.e.f.
01.07.2017 (Law to be amended retrospectively).
registrations have been cancelled till 14.03.2020, application for revocation
of cancellation of registration can be filled up to 30.06.2020 (extension of
period of application as one-time measure to facilitate those who want to
i. Relaxation to MSMEs from furnishing of
Reconciliation Statement in FORM GSTR-9C, for the financial year 2018-19, for
taxpayers having aggregate turnover below Rs. 5 crores;
date for filing the Annual return and the Reconciliation Statement for financial
year 2018-19 to be extended to 30.06.2020; and
fees not to be levied for delayed filing of the Annual return and the
Reconciliation Statement for financial year 2017-18 and 2018-19 for taxpayers
with aggregate turnover less than Rs. 2 crores.
new facility called ‘Know Your Supplier’ to be introduced so as to enable every
registered person to have some basic information about the suppliers with whom
they conduct or propose to conduct business.
requirement of furnishing FORM GSTR-1 for 2019-20 to be waived for
taxpayers who could not opt for availing the option of special composition
scheme under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 by
filing FORM CMP-02.
special procedure is being prescribed for registered persons who are corporate debtors under the
provisions of the Insolvency and Bankruptcy Code, 2016 and are undergoing the
corporate insolvency resolution process, so as to enable them to comply with
the provisions of GST Laws during the CIRP period.
special procedure for registered persons in Dadra and Nagar Haveli & Daman
and Diu during transition period, consequent to merger of the UTs w.e.f.
26.01.2020; transition to be completed by 31.05.2020.
of due dates for FORM GSTR-3B for
the month of July, 2019 to January, 2020 till 24th March, 2020 for
registered persons having principal place of business in the Union territory of
Ladakh. Similar extension is also recommended for FORM GSTR-1 & FORM
of refund claims allowed across financial years to facilitate exporters.
of E-invoice and QR Code:
class of registered persons (insurance company, banking company, financial
institution, non-banking financial institution, GTA, passenger transportation
service etc.) to be exempted from issuing e-invoices or capturing dynamic QR
dates for implementation of e-invoicing and QR Code to be extended to
Deferment of e-wallet
of the time to finalize e-Wallet scheme up to 31.03.2021; and
b. Extension of the present exemptions from
IGST and Cess on the imports made under the AA/EPCG/EOU schemes up to
existing system of furnishing FORM
GSTR-1 & FORM GSTR-3B till
information return from Banks;
curb fake invoicing and fraudulent passing of ITC, restrictions to be imposed
on passing of the ITC in case of new GST registrations, before physical
verification of premises and Financial KYC of the registered person.
of circulars in respect of:
in apportionment of ITC in cases of business reorganization under section 18
(3) of CGST Act read with rule 41(1) of CGST Rules;
during non-constitution of the Appellate Tribunal;
on refund related issues; and
on special procedure for registered persons who
are corporate debtors under the provisions of the Insolvency and Bankruptcy
Code, 2016, undergoing the corporate insolvency resolution process.
to the CGST Rules: Key amendments are as
for reversal of input tax credit in respect of capital goods partly used for
affecting taxable supplies and partly for exempt supplies under rule 43 (1)
to be fixed for the value of the export supply for the purpose of calculation
of refund on zero rated supplies;
allow for refund to be sanctioned in both cash and credit in case of excess
payment of tax;
provide for recovery of refund on
export of goods where export proceeds are not realized within the time
prescribed under FEMA; and
operationalize Aadhaar authentication for new taxpayers.
Certain amendments to
be carried out in the GST laws.
Note: The recommendations of the GST Council have
been presented in this release in simple language for information of all
stakeholders. The same would be given effect through relevant
Circulars/Notifications or amendment in GST laws which alone shall have the
force of law.