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of <h1>New Audit Frequency Rules for Central Excise and Service Tax: Revised Thresholds for Annual, Biennial, and Five-Year Audits.</h1> The circular revises audit frequency thresholds for Central Excise and Service Tax assessees. For Central Excise, units paying over Rs. 3 crore are audited annually, those paying Rs. 1-3 crore biennially, Rs. 50 lakhs-1 crore every five years, and 10% of units below Rs. 50 lakhs annually. Export Oriented Units (EOUs) are prioritized based on input value. For Service Tax, taxpayers paying over Rs. 50 lakhs are audited annually, Rs. 25-50 lakhs biennially, Rs. 10-25 lakhs every five years, and 2% of those below Rs. 10 lakhs annually. These norms are effective immediately, with exceptions for recent audits.
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