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Department audit under Section 65
Background
In terms of section 65 of the CGST Act, the Commissioner or any officer authorized by him may undertake audit of any registered person for such period and frequency, in the manner to be prescribed. The selection of taxable persons for audit is done based on factors such as risk element, total tax payment, turnover, business segment, etc.
Audit initiated by Commissioner or officer authorized by him:
- Section 65 authorizes conduct of audit by the Commissioner...
Price Revision on account of GST 2.0 – All You Need to Know (Practical FAQ’s)
Introduction:
With the rollout of GST 2.0 and a series of rate revisions, businesses are facing widespread uncertainty on whether product MRPs and prices must be revised in line with the benefits of reduced tax rates. While anti-profiteering provisions under Section 171 of the CGST Act have formally lapsed from 1st April 2025, recent circulars from the Department of Consumer Affairs and interpretational nuances under the Legal Metrology Rules have reignited industry concerns. This...
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