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of <h1>Ministry of Finance mandates regular monitoring of surprise squads to curb Central Excise duty evasion, per Public Accounts Committee.</h1> The circular from the Ministry of Finance addresses concerns raised by the Public Accounts Committee regarding ineffective surprise squads in verifying Modvat Credit, leading to unchecked evasion of Central Excise duty. It reiterates previous instructions and mandates regular monitoring of these squads by Chief Commissioners of Central Excise. Chief Commissioners are required to submit quarterly progress reports on the squads' performance to the Board. The circular emphasizes the need for effective oversight to prevent fraudulent Modvat Credit claims. Recipients are requested to acknowledge receipt of the circular.
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