Skip to content

CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · Assessment, Audit, Scrutiny, Demand and Recovery, Advance Ruling, Appeals and Revision

Which of the following is among the items that a person in charge of a place of business must, on demand, make available to the officer or audit party under section 71(2) of the CGST Act?

The income-tax audit report under section 44AB of the Income-tax Act, 1961, if any, must be made available on demand. Section 71(2) also lists the trial balance, audited accounts and the cost audit report, but not directors' personal bank statements.

  1. AThe income-tax audit report, if any, under section 44AB of the Income-tax Act, 1961Correct
  2. BPersonal bank statements of the directors
  3. CCustoms clearance records of competitors
  4. DThe minute books of the GST Council

Explanation

Section 71(2) lists records prepared by the registered person, the trial balance, audited annual accounts where required, the cost audit report, the income-tax audit report under section 44AB, and any other relevant record. Directors' personal statements are not listed, and competitors' records are irrelevant.

Did you get it right without looking?

One question tells you little. A timed set on Assessment, Audit, Scrutiny, Demand and Recovery, Advance Ruling, Appeals and Revision shows your real accuracy, how long you take and where you lose marks.

Practise Assessment, Audit, Scrutiny, Demand and Recovery, Advance Ruling, Appeals and RevisionFree diagnostic mock

More Assessment, Audit, Scrutiny, Demand and Recovery, Advance Ruling, Appeals and Revision questions