GST - A Sovereign Economic Reactor in Consonance with the Institutions of Audit to Sustain Equivalence in the Whole Dynamic System

Authors

  • Nantu Ranjan Pal Practicing Cost Accountant, Kolkata

DOI:

https://doi.org/10.33516/maj.v54i8.27-31p

Keywords:

No Keywords.

Abstract

GST was rolled out on a dynamic digital platform with online real time freedom to all.

Supply and levy a powerful couple generates ITC first wand then output tax in association with tax invoices, debit notes and credit notes the details of which the registered persons must submit through returns periodically in time through live Portal as a major compliance.

The System generates huge records and discrepancies are under perpetual scrutiny by the Authorities who are empowered to conduct audit and ask for special audits by professionals.

Non-compliance becomes costly with proceedings and other consequences need concurrent audits and expert services by the professionals to sustain equivalence in the whole system.

Downloads

Download data is not yet available.

Published

2019-08-31

How to Cite

Pal, N. R. (2019). GST - A Sovereign Economic Reactor in Consonance with the Institutions of Audit to Sustain Equivalence in the Whole Dynamic System. The Management Accountant Journal, 54(8), 27–31. https://doi.org/10.33516/maj.v54i8.27-31p

Issue

Section

Cover Story

References

Websites

The GST Saga - A Story of Extraordinary National Ambition: Ministry of Finance, GOI.

GST System Statistics - as on 29.04.2019 - GST Council.

Goods and Services Tax (GST) Concept & Status - As on 01.06.2019: CBIC.

GST Acts, Rules, Forms and Notifications.

Similar Articles

<< < 2 3 4 5 6 7 8 9 10 11 > >> 

You may also start an advanced similarity search for this article.