A Company secretory or CS is a profession similar to CA and CMA (Cost accountant or CWA, god knows what to call them).
Even CS have proper legal experience just like CA and CWA. Why they are denied audit opportunity under GST?
Do CS institute care for its member or it simply failed to make a case where even CS could be given an opportunity to represent their clients under GST?
From long time CS members were demanding that they should be allowed to do statutory audit as per companies act and income tax audits.
I understand that looks impossible due to CAs having an edge over these matters. But GST is just a small part of business and CS should have been given the opportunity!!!
Can any CS answer, why they are not given the auditing power under GST, though CWA got it?
Is CS institute a failed establishment since CS profession itself is downgraded by many CS I know personally?
I am going to be anon for this answer since there are many intolerant people out there.
First let me tell you that GST is not a small part of a business. With every other indirect tax is removed, GST will be the main tax law.
Now coming to your question, why CS are not given the opportunity to audit the books of their clients under GST.
Audit is a big area and professionals should have good practical training to audit the books of accounts. Due to different provisions contained under Companies Act itself, CWA and CA have this experience.
Who does cost audit? - A cost accountant
Who does statutory audit? - A Chartered Accountant
So far I have not seen any type of audit assigned to a Company secretory.
GST council must have discussed on this matter and they must have considered past duties being performed by these professionals.
I think there is nothing wrong with it. Just because CA or CWA cannot certify a compliance certificate under Companies Act, does not make them useless.
Every profession has its own beauty and duty and due respect.
CA, CWA and CS are highly respected professions and have different expertise on different matters.
I am a CA final student but the answer give above represents the poor mentality of the person regarding the professions. I must say that you are mentally ill and not capable of doing any kind of professional degree. CA , CS, ,CMA, Lawyer, these are the pillars who work together for the growth of the nation. But people like you defame the professions by showing your mentality. And remember one thing MR. ANONYMOUS, you was pretty sure that you are not having ETHICS and that's why you didn't mention your name. If you are doing CA, then pls leave the course or if you are a CA, then pls surrender your membership number because you are in the air and need treatment. Learn to give respect to every profession. You are being insulted here Just because you are trying to show that if someone is CA, then he is everything. If you have gutts then go for UPSC. Then you will come to know who is the Real Father. - Atul Khurana
According to sec 203 of companies act 2013 A CS is also a KMP. not a CA or CWA for that matter. This was just an example to explain where does a question of doubt would arrise, i have 2 things to ask you here; first- before joining the course of CS were you not aware of the powers of a CS? If you weren't happy about the scope you should've opted for CA or course of doctor if you expect other tasks in your profession you can't operate heart surgery because you're a CA right? Is this making any profession useless here?.. c'mon as a CS you have secretarial audit to perform and if you have skills get appointed as whole time CS in reliance you'd earn like anything. Secondly scope in any profession is limitless only if you know how to use it, you can earn in crores just by being a barber provided that you're a javed Habib kinda barber. In the end I'd say please be true to your work. God bless
CS professionals just don't have the professional knowledge and skills and experience required to do audit. Whether statutory or cost. CA professionals go through 3 years of rigorous training on audit and assurance before being eligible to perform themselves.
Now CS professionals are allowed to sign Annual return. Do you know any CA who is crying that why they are not allowed to sign annual return? No.
So why are CS professionals crying like babies "Why can't we do audit? Why can't we represent client in GST?" The fact that they fail to understand this puts serious doubts about their professional capabilities in comparison to Chartered accountants.
Another reason is JEALOUSY. Since a Chartered accountant is much better professionally qualified and trained at providing various services in the fields of auditing and assurance and taxation etc. Naturally they are much sought after and EARN WAY MORE THAN CS. Now there starts the root of their problems. CS professionals cannot see their professional counterparts earning more.
But that is due to the professional incapability of CS professionals not due to law.
AND LASTLY TO THOSE CS BARKING LIKE DOGS.
"KABHI CA KARKE DEKHO. BAAP BAAAP HOTA HAI AUR BETA BETA. KABHI BAAP BANNE KI KOSHIS MAT KARNA"
"THIK JAISE WORLD CUP MEIN INDIA SE PAKISTAN HAMESHA HAARTA HAI WAISE HI HUM CA WALO SE TUM ZINDAGI BHAR HAARTE RAHOGE?
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