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of <h1>Procedure for Drafting and Finalizing Audit Reports on Central Excise and Service Tax: Key Steps and Timelines</h1> The manual outlines the procedure for preparing and following up on audit reports related to Central Excise and Service Tax. After completing audit verification, auditors draft a report using a prescribed format, discussing findings with taxpayers and recording their initial responses. If a taxpayer agrees with a short levy, auditors explain benefits under relevant laws for prompt recovery. The draft report is reviewed by senior officers and finalized within 20-25 days. Monthly Monitoring Committee Meetings (MCM) are held to settle audit objections. Final audit reports are issued within 30 days post-MCM, followed by necessary actions such as issuing show cause notices. The manual emphasizes maintaining records and updating databases to ensure compliance and follow-up on audit findings.
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