This Tax Alert summarizes on changes in norms/guidelines to be followed by Audit Commissionerates in Central Excise and Service tax audits vide Circular no 995/2/2015 dated 27 February 2015.
As per the circular, the existing norms of categorizing taxpayers into mandatory and non-mandatory units have been replaced with segmenting taxpayers into large, medium and small units.
It also emphasizes on selecting taxpayers for audit on the basis of risk parameters instead of the existing single criterion of taxes paid by the taxpayers in the previous year.
The circular also provides guidelines in respect of theme based coordinated audits, audit of multi-locational units, audit of Large Taxpayer Units (LTU) and audit of an assessee given accredited status.
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