Area to be specially focused at the time of audit of Budgetary Support Scheme

[PANKAJ MASKARA]

What are the special areas, points, issues to be specially focused at the time of audit of Budgetary Support Scheme (BSS).

[Sadanand Bulbule]

The Budgetary Support Scheme (BSS) for reimbursement of IGST for promotion of Small/ Medium/ Large Scale Industries is part of Industrial Policy announced by some states.

Plz elaborate the query.

[KASTURI SETHI]

Dear Sir,

The query is in one line but the reply is very very lengthy. It is in the interest of the querist if he focuses on specific problem. 

[Shilpi Jain]

Ensure that you will be able to prove you have adhered to all the conditions of the scheme and followed all the relevant procedures to claim the benefit of the BSS.

That is what the audit party will focus on.

AI Summary

Audit Focus on Budgetary Support Scheme Under GST: Compliance and Reimbursement Issues Highlighted for Industrial Policy. A discussion on the audit of the Budgetary Support Scheme (BSS) under the Goods and Services Tax (GST) highlighted areas of focus. The BSS, part of some states' Industrial Policy, reimburses IGST to promote various scale industries. One response advised elaborating on specific issues, while another emphasized the need to demonstrate compliance with all scheme conditions and procedures, as these are key audit focus areas. The discussion aimed to clarify the audit process for ensuring proper adherence to the scheme's requirements.