Audit under service tax

Hello,

Is there a particular turnover above which Service Tax records have to be audited by a Chartered Accountant? Just like in Income Tax Act audit u/s 44AB is required when Turnover crosses Rs.1 crore(Rs.25 lacs for Professionals) and in Maharashtra VAT audit, audit is required when Turnover crosses Rs.60 lacs?

Replies (10)

There is no such provision for audit in Service Tax Laws

 

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
Originally posted by : CA AYUSH AGRAWAL

 

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

This audit is not conducted by CA, it is conducted by Service Tax Audit Cell (A Team of Officers)

Originally posted by : Manjunatha M K




Originally posted by : CA AYUSH AGRAWAL






 

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






This audit is not conducted by CA, it is conducted by Service Tax Audit Cell (A Team of Officers)

Yes, Its Not Condusted by CA's.

But by Service Tax Department Only.

But Just for Turnover Benchmark I Have Shared Here.

There is a provision of service tax audit, which is done by CA Firms on empanelment basis on th behalf of service tax department. Service Tax dept. is responsible for doing this audit.

 

But there is no provision under service tax, by which service provider require to get their accounts audited from Chartered Accountant.

So where the limits are prescribed, in any rule or section of service tax act? What is the source?

Originally posted by : Kamlesh

So where the limits are prescribed, in any rule or section of service tax act? What is the source?

IT IS REQUIRED BY SERVICE TAX AUDIT MASNUASL ISSUED BY CBEC...

there is no provision in service tax for  audit by a chartered accountant .

                                CA VINOD KUMAR GUPTA

There is no provision regarding audit by CA .

........and What about the audit requirements under Excise Law ?

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