GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak

The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms from routing transactions through other countries to avoid taxes

The income tax (I-T) department on Monday deferred, for the third time, the requirement for firms to include details of Goods and Services Tax (GST) and GAAR in their tax audit report, in view of the pandemic.
 

The reporting requirement of these details in the I-T audit form has been kept in abeyance till March 31, 2021, suggesting that audit reports need not include details on GST and General Anti-Avoidance Rules (GAAR) till then.
 

Business entities with turnover of over Rs 1 crore (or Rs 2 crore if they have opted for presumptive taxation), and professionals with gross receipts of