Commlssionerate of CT and GST, Odisha (At Cuttack)

(Finance Department, Government of Odisha)

Head of CT & GST Territorial Range (All Ranges)

Head of CT & GST Circle (All Circles)

Head of CT & GST Assessment Units (All Assessment Units)

Sub: Clarification on requirement of audit of accounts, furnishing statement of such accounts and filing of Annual Return under the OVAT Act, 2004 for 2017-18

Madam/Sir,

On the aforementioned subject I am directed to say that representations have received from various quarters seeking clarification on the requirement to submit audited accounts statement for Q/E June-2017 as per the mandate in Section 65(1) of the OVAT Act, 2004. The issue is clarified below.

Section 65 (1) of the OVAT Act has not been amended in the OVAT (Amendment) Act, 2017. As a result, the requirement to submit audited accounts statement by the dealers required to get their accounts audited remains. Therefore, the dealers whose gross turnover exceeded Rupees one crore during the year 2017-18 are required to get their accounts audited and furnish copy of the audit report as usual in the prescribed manner.

It is also clarified that the requirement to file the annual return also remains and accordingly all the dealers are required to file the annual return in the prescribed manner. The annual return for the year 2017-18 shall be on the purchase and sale transaction effected during the quarter ending on 30.06.2017. However, in case of dealers dealing in liquor for human consumption and/or HSD. MS (commonly known as Petrolh ATF. Natural Gas and Crude Petroleum the annual return shall be on the purchase and sale transactions effected during the whole year of 2017-18,

This is issued with the approval of Commissioner and this may be widely publicized for information of all concerned.

Yours faithfully,

Addl. Commissioner of CT & GST (Policy)