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TMI BlogAudit fees collected by the Comptroller and Auditor General (CAG) – regarding.X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 th June, 2012. To Chief Commissioners of Customs and Central Excise (All) Chief Commissioners of Central Excise Service Tax (All) Directors General of Service Tax/Central Excise Intelligence/Audit Commissioners of Central Excise Service Tax (All) Commissioners of Service Tax (All) Commissioners of Customs and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Finance Act, 1994 reads as follows: practicing chartered accountant means person who is a member of the Institute of Chartered Accountants of India and is holding a certificate of practice granted under the provisions of the Chartered Accountants Act, 1949 (38 of 1949) and includes any concern engaged in rendering services in the field of chartered accountancy [emphasis added]. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ged in the sphere of the auditing. The scope of work of the CAG goes far beyond that of a statutory company auditor and is often carried out by persons who may not even be professional chartered accountants. These audits are done in terms of section 18 of the CAG (Duties, Powers and Conditions of Service) Act, 1971, which is entirely different from the powers vested in a chartered accountant und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, they are already taxed under Business Auxiliary Service. Definition of support services of business or commerce gives indicative list of outsourced services. It is evident that this circular has clarified that the new service was meant to capture such services as are ordinarily outsourced by business entities. The audit activity is not an outsourced function but is carried out in statutory ..... X X X X Extracts X X X X X X X X Extracts X X X X
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