Removal of mandatory audit requirement: annual accounts audit and reconciliation by a specified professional no longer required under the CGST Act. Clause 101 proposes omission of sub section (5) of section 35 of the Central Goods and Services Tax Act, removing the mandatory requirement that annual accounts be audited and that a reconciliation statement be prepared and submitted by a specified professional.
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Provisions expressly mentioned in the judgment/order text.
Removal of mandatory audit requirement: annual accounts audit and reconciliation by a specified professional no longer required under the CGST Act.
Clause 101 proposes omission of sub section (5) of section 35 of the Central Goods and Services Tax Act, removing the mandatory requirement that annual accounts be audited and that a reconciliation statement be prepared and submitted by a specified professional.
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