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Rinshi Jain asked 1 year ago

In GST Audit study material and your notes, the Verification part uses the words “True and Correct”. Whereas the analysis of GSTR-9C uses the words “True and Fair”.
What terminology is to be used in the exam? And why? 

1 Answers
RaviRavi Staff answered 1 year ago

we use true & fair when we use judgements and give reasonable assurance
we use true & correct when we comment on accuracy of financial information
when gstr-9c was issued they used true & correct
then they changed it to true & fair
gst audit involves evaluating and applying judgements
specially in case of valuation, classifications etc
so  true & fair is appropriate 

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