CAG has said that it has demanded explicit provision in the law to empower the official auditor to call for any information for audit of Goods and Service Tax (GST) receipts and utilisation of their funds. As per reports, while the Comptroller and Auditor General of India (CAG) by law audit any receipts in the Consolidated Funds of India, the GST Council is not in favour of giving powers to the official auditor under the new GST law to call for information outside of the GST tax receipt for audit.
The GST Council, headed by Union Finance Minister Arun Jaitley and comprising representatives of all states, had in its meeting last month decided to keep out a provision from the Draft Model GST Law giving CAG powers to call for any other information for audit. As per reports, the government auditor was of the view that it is essential to check the accounts and records of assessees that form the basis for tax assessment.
It said that CAG's (DPC) Act gives it the authority to access the "records of an assessee". The GST Council in its sixth meeting on December 11, 2016 was, however, not in favour of keeping the provision in the GST law. - See more at: http://investmentguruindia.com/EconomyNews/CAG-in-favour-of-provision-in-GST-law-to-seek-info-for-audit#sthash.mgSzgTFQ.dpuf
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