Audit for closed unit

[venkat eswaran]

Dear All.

One of our unit closed in Dec-15 and RC was surrendered. The unit was started in Jul-14. Whether the audit will come for closed unit? All records to be kept at what period ?

For your valuable commends, Thanks in advance

Venkat

AI Summary

Closed Unit Faces Possible Audit; Retain Records for 5 Years Due to Compliance Doubts and Random Checks Under Central Excise Rules A closed unit, operational from July 2014 to December 2015, is inquiring about the possibility of an audit and record-keeping requirements. Responses indicate that while the unit may not typically be audited if its turnover is below 60 lakhs, audits can occur randomly or if there are doubts about compliance. The Central Excise department can issue notices within two years for non-fraudulent issues and within five years if fraud, collusion, or suppression of facts is suspected. It is advised to retain records for up to five years to comply with potential audits.