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<h1>Finance Bill 2021 proposes removal of mandatory audit and reconciliation statement under CGST Act Section 35.</h1> Clause 101 of the Finance Bill, 2021, proposes an amendment to section 35 of the Central Goods and Services Tax Act. This amendment involves the removal of sub-section (5), which eliminates the mandatory requirement for taxpayers to have their annual accounts audited and the reconciliation statement submitted by a specified professional.