UDIN will be mandatory for GST & Tax Audit Reports from 1st April 19

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UDIN will be mandatory for GST & Tax Audit Reports from 1st April 19

UDIN ( Unique Document Identification Number ) was made mandatory after the decision was taken in 379th Council Meeting held on 17th & 18th December 2018. ICAI mandated the use of UDIN whereby all the practicing Chartered Accountants are required to generate UDIN for all Certificates issued. Especially, wherever the CAs are certifying that the Financial Information/related contents is  True and Fair / True and Correct, the UDIN is mandatory.

Objective behind UDIN

UDIN is an initiative taken by ICAI to curb misrepresentation.  Some people pose as Chartered Accountants and forge signatures on documents to mislead authorities. With the use of UDIN;  banks, RBI, Income Tax Department, etc. can check the validity of the documents issued by the Chartered Accountant. and the authenticity of the documents attested will be confirmed.

Click here to know more about UDIN, why and how to register or generate UDIN).

Phased Implementation

ICAI planned the implementation of UDIN generation in a phased manner – in 3 phases.

1st Phase w.e.f. 1st February 2019

It is mandatory for a Chartered Accountant to generate a UDIN for all the certificates issued on and after 1st February 2019. Click here to see the illustrative list of certificates for which UDIN was mandatory in this phase.

2nd Phase w.e.f. 1st April 2019

ICAI today announced that it will be mandatory for a Chartered Accountant to generate a UDIN for GST Audit Reports & Tax Audit Reports on and after 1st  April 2019.

ICAI has clarified that this would also be applicable for Bank Audits too. Hence, Chartered Accountants are requested to adhere to the same while conducting Bank Audits too.

3rd Phase w.e.f. 1st July 2019

It will be mandatory for a Chartered Accountant to generate a UDIN for all other attesting functions carried out by a CA other than mentioned in Phase 1 & Phase 2.

(Click here to read more about the certificates omitted from UDIN in phase 1 )

 

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