The Uttar Pradesh government has released the The Uttar Pradesh Value Added Tax (Fifth Amendment) Rules, 2014 on 27.06.2014, thereby including Company Secretaries in the definition of “accountant” specified under the rules.
This is a big recognition for the CS professionals to play a vital role in the field of Indirect Taxation (VAT etc.) and had cast a huge responsibility besides statutory authority.
Hence, the clause is hereby substituted with the previous clause contained which is as follows:
“Accountant” means a Chartered Accountant as defined in Chartered Accountants Act, 1949, or a member of an Association of Accountants recognized in this behalf by the Central Board of Revenue and includes a Company Secretary as defined in the Company Secretaries Act, 1980 and a Cost Accountant as defined in the Cost and Works Accountant Act , 1959.
