Chapter XIV (Sections 67-72) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to Inspection, Search, Seizure and Arrest. Section 71 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides for Power to summon persons to give evidence and produce documents under CGST Act 2017.
Recently, we have discussed in detail section 70 (i.e. Power to summon persons to give evidence and produce documents) of CGST Act 2017. Today, we learn the provisions of section 71 of the CGST Act 2017. Complete Details of CGST Section 71 – Access to business premises. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.
Notes on Section 71 of CGST Act 2017
Section 71 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), dated 28.06.2017. In this note, you will learn detail of the provisions of section 71 of CGST Act 2017 read with Central GST Rules 2017.
Any officer under this Act, authorised by the proper officer not below the rank of Joint Commissioner, shall have access to any place of business of a registered person to inspect books of account, documents, computers, computer programs, computer software whether installed in a computer or otherwise and such other things as he may require and which may be available at such place, for the purposes of carrying out any audit, scrutiny, verification and checks as may be necessary to safeguard the interest of revenue.
Every person in charge of place referred to in sub-section (1) shall, on demand, make available to the officer authorised under sub-section (1) or the audit party deputed by the proper officer or a cost accountant or chartered accountant nominated under section 66—
(i) such records as prepared or maintained by the registered person and declared to the proper officer in such manner as may be prescribed;
(ii) trial balance or its equivalent;
(iii) statements of annual financial accounts, duly audited, wherever required;
(iv) cost audit report, if any, under section 148 of the Companies Act, 2013;
(v) the income-tax audit report, if any, under section 44AB of the Income-tax Act, 1961; and
(vi) any other relevant record, for the scrutiny by the officer or audit party or the chartered accountant or cost accountant within a period not exceeding fifteen working days from the day when such demand is made, or such further period as may be allowed by the said officer or the audit party or the chartered accountant or cost accountant.