9911796707
TMI BlogEmpanelment of CA/ICWA for audit of Service Tax assessees.X X X X Extracts X X X X X X X X Extracts X X X X ..... Website Sir/Madam, Sub:- Empanelment of CA/ICWA for audit of Service Tax assessees. **** The Service Tax department proposes to order for conduct of special audit of Service Tax Assessees by the Chartered Accountant and Cost Accountants under Section 14AA of the Central Excise Act, 1944, as made applicable to Service Tax under Section 83 of the Finance Act, 1994. For this purpose, it is proposed to make a panel of CA/ICWAI who may be assigned the task of audit. 2. In this connection, please find enclosed herewith a Notice for "Expression of Interest" from the interested and eligible practicing Chartered Accountants/ Cost Accountants. It is requested that wide publicity may be given to your members for making applications. It is request ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d) during past five years or penalized under the Service Tax Law or Custom Act or Central Excise Act; (iv) not be facing any investigation or enquiry by the CBEC for any violations under the Service Tax Law or Custom Act or Central Excise Act. 3. (i) Selection procedure : All the applications received up to the last date shall be scrutinized by a Committee appointed by the Commissioner in terms of guidelines issued in this behalf. The basic criteria for selecting the applicant would be the experience in audit/ consultancy/representation in the Service Tax matters. The selected candidates shall be called for an interview/ discussion by a Committee of 3 officers for final empanelment. The final panel shall be notified and may be modified as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvations. Photocopies of sample documents shall also be enclosed with audit report for taking further action by the department. (v) Right for private practice : The nominated person/firm shall not have represented or advised in any manner the assessee whose audit is ordered by the department in any area like maintenance of accounts, auditing, tax consultancy, any other consultancy, representation etc. This aspect would be verified while assigning a particular assessee for audit and a certificate in this regard would be submitted before accepting the special audit. (vi) On receipt of audit report, department may call the auditor for seeking any clarification or ask them to complete audit, if it is found that particular area has not been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hartered Accountant/Cost Accountant so nominated is entitled to the fee, depending upon the size of the unit under special audit. As per the present guidelines of CBEC, the amount of such fee payable is mentioned below : Sr No Service Tax by the unit in 2010-11(Rs ) Fee Amount(Rs) 1 Amount of upto Rs 10 Crores 15,000/- 2 10-100 Crores 25,000/- 3 100-200 Crores 35,000/- 4 200 Crores and above 50,000/- The nominated person is also entitled for re-imbursement of travelling expenses as per the instructions in force. The Chartered Accountant/Cost Accountant shall submit his bills within one month from the date of submission of audit report. 6. General : (i) It is the sole discretion of the Commissioner to select any of the Cha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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