Tax audit?

This query is : Resolved

Prashanth (Querist)
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07 September 2011 Hi,
1)Can Tax Auditor revise the Form-3CD?(if yes mention the guidance note date)
2)whether Excise and Vat are includable in turnover?or it depends on inclusive or excusive method?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 September 2011 Extract from the supplementary Guidance note on ICAI is given below.

"It may be pointed out that report under section 44AB should not normally be
revised. However, sometimes a member may be required to revise his tax audit
report on grounds such as:4
4
(i) revision of accounts of a company after its adoption in annual general
meeting.
(ii) change of law e.g., retrospective amendment.
(iii) change in interpretation, e.g. CBDT Circular, judgements, etc.
In case where a member is called upon to report on the revised accounts, then he
must mention in the revised report that the said report is a revised report and a
reference should be made to the earlier report also. In the revised report, reasons
for revising the report should also be mentioned. [Reference may also be made to
Guidance Note on Revision of the Audit Report (Handbook of Auditing
Pronouncement Volume II, page 472)