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Audit limit for service tax by department

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(Querist)
28 August 2011 I want to clarify whether there is any change in limits for audit of service tax concerns by the revenue department, if yes, where i can find that?
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CS Bijoy

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CS Bijoy (Expert)
29 August 2011 i. Taxpayers with Service Tax payment above Rs.3 crores (Cash + CENVAT) (MANDATORY UNITS) – to be audited every year.
ii. Taxpayers with Service Tax payment between Rs.1 crore and Rs.3 crores (Cash + CENVAT) – to be audited once every two years.
iii. Taxpayers with Service Tax payment between Rs.25 lakhs and Rs.1 crore (Cash + CENVAT) – to be audited once every five years.
iv. Taxpayers with Service Tax payment upto Rs.25 lakhs (Cash + CENVAT) – 2% of taxpayers to be audited every year
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CA Nikhil Jhanwar

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CA Nikhil Jhanwar (Querist)
30 August 2011 Exemption to individual entities having a turnover below 60 lacs from audit in budget speech 2011-12 whether formalised and become effective?
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