Special audit powers permit directed forensic accounting reviews and compel certified audit reports for suspected service tax irregularities. Special audit empowers the tax authority to direct a person liable for service tax to obtain an audit by a nominated chartered accountant or cost ... Summary
Special audit powers permit directed forensic accounting reviews and compel certified audit reports for suspected service tax irregularities.
Special audit empowers the tax authority to direct a person liable for service tax to obtain an audit by a nominated chartered accountant or cost accountant when there are grounds to believe valuation errors, improper or fraudulent availing or utilisation of credit, or impracticability of obtaining a complete picture due to operations at multiple locations. The nominated auditor must submit a signed and certified report within the specified period; the provision applies notwithstanding audits under other laws and any material from the audit may be used only after affording the person an opportunity of being heard.
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