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of <h1>New Selective Audit System for Central Excise: Major Units Annually Audited; Excludes SSI and Medium Units Under 1 Crore.</h1> The circular introduces a Selective Audit system for Central Excise duty-paying units, excluding small-scale industries (SSI) and medium units with annual revenue under 1 crore. Major units will undergo audits annually, with frequency adjustments based on compliance records, commodity type, and revenue trends. Audits will focus on units with potential duty evasion, significant discounts, or anomalies in pricing. SSI units require written permission for audits. Comprehensive audits are mandatory for units producing both dutiable and exempted goods. Cost Accountants may assist in high-revenue cases. Audit parties will scrutinize statutory records and selectively examine invoices to ensure valuation and assessment accuracy.
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