Clause 44 Cockpit
Clause 44 Cockpit
Clause 44 of Tax Audit Report (Form 3CD) is the GST reporting requirement of expenditure made in previous year, this report requirement was made effective for companies in India from AY 2022-23. Companies needs to categorize their total expenditure in different columns as per the report format provided below -
| Expenditure in respect of entities registered in GST | ||||||
|---|---|---|---|---|---|---|
| Sr. no. | Total Amount of Expenditure incurred during the year | Relating to Goods & Services exempt from GST | Relating to Entities falling under composition scheme | Relating to other registered entities | Total payment to registered entities | Expenditure relating to entities not registered under GST |
| (1) | (2) | (3) | (4) | (5) | (6) | (7) |
Our Clause 44 cockpit solution prepares a detailed report for categorizing the expense transaction into required buckets. The detailed transaction-wise report and the consolidated report (in above format) is available in the ERP directly for the tax team or auditor of our clients to download & verify.
Our Clause 44 cockpit solution is integrated with GST APIs to automatically determine vendors who are registered or un-registered under GST and who have taken composition scheme.
Our Clause 44 cockpit solution prepares the required report financial year-wise and can be downloaded by the authorised user directly from SAP or Oracle ERP.