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PRE AUDIT

Guest
Pre-audit threshold change reduces mandatory audit steps before refund sanction, altering refund processing timelines. The departmental increase of the monetary threshold alters the mandatory pre-audit requirement for excise refunds: fewer refund claims will require audit pre-clearance before finalisation, changing the procedural sequencing between jurisdictional sanction by the Assistant/Deputy Commissioner under the statutory refund provision and audit verification, and thereby narrowing the set of claims subject to compulsory pre-audit. (AI Summary)

As per the Board Circular issued in 2001 pre audit was compulsory for the amount exceeding Rs.50000/-(Fifty Thousand only). Even though the jurdistctional Assistant/Deputy Commissioner sanctions refund under Sec 11B , pre audit was compulsory by the audit team for sanctioning the refund to the assessee.

Now the department has raised the limit to Rs.5,00,000/- (Five lakhs is a welcome move) because the assessee has to wait for refund even after three months since the Deputy Commissioner has to wait for the range report and after the claim is ready for refund it will be sent for pre audit.

Now by means of increase in amount of limit, some amount of relief has been provided to the assessee's.

regards

t.r.r

Central Excise
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