Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: list of goods taxed at 4% :: VAT Audit :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: cpt :: empanelment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4%
« Auditing »
 Time Limit For Completion Of Assessment From The Date Of Special Auditor’s Report Under Income Tax Act, 1961
 Provisioning pertaining to Fraud Accounts
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
 Cost Auditing Standards [ Cost Audit Documentation (102)] – Part-II
 Conference on Companies Act gets under way
 New bureau to dissolve state-run banks' power to choose auditors
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
 ICAI forms 'prima facie' view on NSEL auditor
 Firms appoint new auditors in shift to meet new standards
 Cadre restructuring in I-T dept may open scrutiny of closed cases
 RBI issues new guidelines on concurrent auditing at branches

Audit and Inspections
March, 31st 2009

Directorate of Service Tax conducts inspections of Service Tax work in Central Excise Commissionerates all over the country. Inspections in the past have prompted the Commissionerates to streamline the service tax administration system and to conduct surveys to register all prospective assessees under the tax net. Commissionerates have also been directed to conduct the internal audit of assessees records as per the instructions of the Board. This audit drive has resulted in the augmentation of revenue. Similarly, CERA has brought on record many instances where assessees were either suppressing the value of taxable service or not getting registered under the tax net.

A few Commissionerates have taken up this work seriously and shown commendable results. Some Commission rates have certainly lagged behind in the field of survey work. Many of them being major service tax earning Commission rates. Survey efforts are adversely affected due to non-deployment of adequate manpower and other resources such as vehicles, etc. it is necessary that all available resources and efforts are mobilized by the field formations to register all assesses for optimum service tax realization.

The service tax is envisaged tobe administered on self-assessment basis. Legal provisions for facilitating such self-assessment have been made in the Finance Act, 2001. This underlines the need for strengthening the audit mechanism to prevent tax evasion/avoidance.

As a path breaking experiment in the field of auditing of services tax assessees on selective basis, the Board has directed the field formations in the metro cities of Mumbai, Chennai, Delhi & Kolkata to conduct the audit of service tax records (1999-2000 onwards only) of the leading service providers in the category of advertising, pagers, couriers, CHAs, steamer agents, air travel agents, manpower recruitment agencies, tour operators, credit rating agencies, chartered accountants, real estate agents etc. (16 service categories). Result of these Audits checks are awaited.

The Director General of Audit, Central Board of Excise & Customs New Delhi has published SERVICE TAX AUDIT MANUAL 2003 on 01.10.2003 containing the entire procedure to be followed by the officers of the Department while conducting audit of the Service Tax providers.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions