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Better to assessing GST returns: Andhra Bank AGM Ajay Paul
The speakers at a seminar on Tax Audit and GST Vs ITR, held at the Andhra Bank Seminar Hall in Ongole advised the income tax assesses to pay the income tax in time, but after comparing it with the GST returns
Ongole: The speakers at a seminar on Tax Audit and GST Vs ITR, held at the Andhra Bank Seminar Hall in Ongole advised the income tax assesses to pay the income tax in time, but after comparing it with the GST returns.
The Andhra Bank AGM Ajay Paul, CAs TG Suresh, Vignesh from Chennai participated in the seminar, which was held for the first time in Andhra Bank. Ajay Paul, who inaugurated the session, said that the seminar will be helpful to the chartered accountants in the district, while CA RLN Ramaprasad, chairman of Ongole CA chapter presided over the meeting.
The CA TG Suresh explained the new clauses introduced in the tax audit by the Central Board of Direct Taxes. He advised that those who are under tax audit, to file the income tax returns by September 30 or face the penalty by the income tax department.
CA Vignesh explained about the GST Vs ITR. He said that reconciliation plan is the main feature of GST. He advised the assesses to compare the reports with the GST returns and file the income tax report. He said that if there were any discrepancies, they would be liable for penalties by the GST and Income Tax departments.
The CA Ongole branch secretary, Bhaisani Jaganmohan Rao, treasurer Satyanarayana, Ranganayakulu, Kesavarao, and other CAs from the district also participated in the programme and clarified their doubts.
