Special audit power enables customs to mandate cost accountant audits and recover audit expenses from manufacturers. A new special audit mechanism empowers the Chief Commissioner of Customs to direct manufacturers to have accounts of warehouses, offices, stores, factories or other establishments audited by a nominated Cost Accountant, who must submit a signed report within the specified period. Audit expenses, including remuneration, are determined by the Chief Commissioner and payable by the manufacturer and, if unpaid, recoverable under the Customs Act. The manufacturer must be given a copy of the audit report and may make representations. 'Cost Accountant' is defined by reference to the Cost and Works Accountants Act.
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Special audit power enables customs to mandate cost accountant audits and recover audit expenses from manufacturers.
A new special audit mechanism empowers the Chief Commissioner of Customs to direct manufacturers to have accounts of warehouses, offices, stores, factories or other establishments audited by a nominated Cost Accountant, who must submit a signed report within the specified period. Audit expenses, including remuneration, are determined by the Chief Commissioner and payable by the manufacturer and, if unpaid, recoverable under the Customs Act. The manufacturer must be given a copy of the audit report and may make representations. "Cost Accountant" is defined by reference to the Cost and Works Accountants Act.
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