Audit Reports

23 August 2011

Performance

Report No. 15 of 2011 - Performance Audit of Service Tax on Banking and other Financial Services and Duty Drawback Scheme Union Government, Department of -Indirect Taxes

and collection of service tax on Banking and other Financial Services. We found procedural deficiencies in registration of assessees, receipt of returns, scrutiny of returns, ambiguities/inadequacy in rule provisions and non-compliance. While the total financial implication of this audit...............

Sector:

Taxes and Duties

Section – 2 Customs

_{(PDF 5.86 MB)}

as per sub-rule 4(a) of Rule 5, any claim which is incomplete in any material particulars or is without the documents shall not be accepted and returned to the claimant with deficiency memo within 15 days of submission and shall be deemed not to have been filed. Where exporter complies with...............

Download Full Report _{(PDF 20.84 MB)}

01 August 2014

Compliance

Report No. 17 of 2014 - Union Government, Communications and IT Sector

centralised project implementation and monitoring system, deficiencies in costing and pricing as well as lack of well-defined policy on intellectual property rights, transfer of technology and patent rights were observed in test check of projects undertaken by SAMEER. Even after Report No. 17 of...............

Sector:

Information and Communication

Audit Report of Ministry of Communications & IT

_{(PDF 0.23 MB)}

17 of 2014 taken to get the encroachers evicted in other cases where it was noticed by the Management. iv. Delay in mutation of property in the name of the Company adversely affects the legal proceedings of getting the encroachers evicted. It was also observed that the concerned SSAs did not...............

Download Full Report _{(PDF 1.73 MB)}

16 December 2011

Performance

Report No. 23 of 2011 - Performance Audit of Recovery of Arrears of Tax Demand

Direct tax collections, amounting to RS 4.35 lakh crore accounted for three-fourth of revenue receipts of the Government of India in 2009-10. At the same time the uncollected portion of tax demand was RS 2.29 lakh crore in March 2010 equivalent to...

Sector:

Taxes and Duties

Chapter – 5 Follow up and Disposal of arrears

_{(PDF 15.8 MB)}

the certificate by one or more of the modes mentioned below: (a) attachment and sale of the Chart 5.1: Disposal of RCs by TROs assessee's movable and immovable property (b) arrest of the assessee and his o detention in prison; and E- (c) appointing a receiver for management of the assessee's...............

Chapter 3 – Tax Recovery Mechanism and Internal Control

_{(PDF 16.63 MB)}

the next quarter and report compliance and results while sending the subsequent 12 The AO sends the statement containing details of both movable and immovable assets of the defaulters under his signature and seal in Form no. 57. 13 Tax recovery certificate is a notice of demand issued by TRO in...............

Executive Summary

_{(PDF 4.98 MB)}

to the assessee under section 225(1), attachment of the bank accounts of the assessee under section 226(3), attachment and sale of movable and immovable property under section 222(1), adjustment of refund arising in subsequent years against arrear demand and levy of penalty under section...............

Chapter 1 – Introduction

_{(PDF 3.82 MB)}

by the employer, payment by person indebted to defaulter, payment by money in Court's custody and by distraint (seizure of goods) or sale of movable property respectively. 179 Recovery of arrears of tax in case of private company may be effected from Director of the company during the year who...............

Download Full Report _{(PDF 59.48 MB)}

05 August 2011

Performance

Report No. 7 of 2011 - Performance Audit on Role and Functioning of Indian Coast guard

in the Government of India for the requirement to enforce National Laws in the waters under national jurisdiction and ensure safety of life and property at sea. It was also considered desirable that these law enforcement responsibilities be undertaken by a service suitably equipped and...............

Sector:

Defence and National Security

Chapter 3 - Planning and Financial Management

_{(PDF 0.39 MB)}

CHAPTER 3 Planning and Financial Management 3.1 Perspective Plans At the time of its establishment, in 1978, the ICG Development Plan 1978-1990 was prepared by the Coast Guard Advisory Board indicating the long-term requirements of the ICG based on ...

Chapter 5 – Patrolling and Security Issues

_{(PDF 1.07 MB)}

Patrolling and Security Issues 67 Report No. 7 of 2011-12 Defence (MOD) in January 2010 which was returned directing ICG to include an amendment to the Customs Act 1962 in the Statement of Case. The above points to the legal limitations faced by the ICG in performing its mandate with regard to...............

Download Full Report _{(PDF 3.85 MB)}

23 August 2011

Performance

Report No. 12 of 2011-12 - Performance Audit of Business of Civil Construction

The construction industry has emerged as an important driver of India's economic growth - both in terms of its share of GDP and its contribution towards employment generation. A number of tax concessions are given to entities in this sector. An...

Sector:

Taxes and Duties

Chapter – 6 Omissions in assessments

_{(PDF 2.01 MB)}

asset includes the extinguishment 69.03 crore where of any rights therein, or any transaction allowing capital gain was not possession of any immovable property to be taken or retained by any other person in part performance of a offered to tax. Two contract, of the nature referred to in...............

Chapter 3 – Internal Controls

_{(PDF 1.57 MB)}

identifying potential taxpayers, the CBDT had made it mandatory for every person to quote PAN in all documents pertaining to sale or purchase of any immovable property valued at ^ 5 lakh or more. As per CBDT instructions, the Central Information Branch (CIB) functioning under DGIT (Inv) would...............

Download Full Report _{(PDF 11.54 MB)}

01 August 2014

Compliance

Report No. 12 of 2014 - Compliance Audit on indirect Taxes Union Government, Department of Revenue Customs

Drugs and Psychotropic Substances Act 1985 (NDPSA), the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (SAFEMA), the Foreign Exchange Management Act, 1999 (FEMA) and the Conservation of Foreign...............

Sector:

Taxes and Duties

Chapter 7 - Thematic Audit

_{(PDF 0.31 MB)}

After confiscation, the goods become the property of the Central Government and Government could sell/auction the goods. The Disposal Manual of the Department classified the seized and confiscated goods into four categories20: (i) Category-1 ( Goods to be disposed of immediately after seizure);...............

Executive Summary

_{(PDF 0.07 MB)}

sale and export of the narcotic alkaloid extracts higher up in the value chain had the potential to provide exponentially higher economic returns to the poppy plantation, save foreign exchange in procuring poppy seeds in the traditional hinterlands, using modern technology, scientific...............

Glossary of terms and Abbreviations

_{(PDF 0.05 MB)}

Report No.12 of 2014 - Union Government (Indirect taxes - Customs) Glossary of terms and abbreviations Expanded form Abbreviation Air Cargo Complex ACC Advance release order ARO Anti Dumping Duty ADD Aayaat Niryaat Form ANF Bank Guarantee BG Basic...

Download Full Report _{(PDF 2.01 MB)}

10 May 2012

Performance

Report No. 30 of 2011 – Performance Audit of Revival of Sick Central Public Sector Enterprises

The Committee would also like the Ministry to make it mandatory that land measurements are carried out by the Company before offering any property for sale. 4. (a). Non-observance of procedure for valuation of properties The Committee note that the procedure devised by the Company in November,...............

Sector:

Finance

Executive Summary

_{(PDF 0.12 MB)}

Executive Summary Background Industrial sickness has far-reaching consequences on the economy of the nation which generally results in substantial loss of revenue to the Government, loss of production and productivity, large-scale unemployment and...

Chapter 1 – Introduction

_{(PDF 1.14 MB)}

to the United Nations Commission on International Trade Law (UNCITRAL)10 Legislative Guide, the underlying goal of insolvency law is to maximize returns for stakeholders by promoting through a timely and efficient process; revival of viable businesses and; liquidation of enterprises whose...............

Chapter 3 – Legislative framework and its impact on revival of sick CPSEs

_{(PDF 1.33 MB)}

Chapter 3 Legislative framework and its impact on revival of sick CPSEs 3.1 Insolvency framework in India There is no single legislation in India providing for a systematic and cohesive system for rehabilitation and liquidation of enterprises...

Chapter 7 - Conclusion and Recommendations

_{(PDF 0.19 MB)}

Chapter 7 Conclusion and Recommendations Conclusion There is no single legislation in India providing for a systematic and cohesive system for rehabilitation and liquidation of enterprises including CPSEs. A number of legislations and regulations...

Chapter – 6 Impact Assessment

_{(PDF 0.13 MB)}

Chapter 6 Impact Assessment 6.1 Non-achievement of targets The revival schemes were sanctioned with the basic objective of making the sick CPESs turnaround in a time bound manner. Achievement of targets set out in the revival schemes is, therefore, ...

Download Full Report _{(PDF 5.2 MB)}

05 September 2011

Performance

Report No. 5 of 2011 – Performance Audit of Management of Vessels (The Shipping Corporation of India Limited)

The Shipping Corporation of India Limited (Company), a Navratna PSU under the Ministry of Shipping, GOI, is the country's largest shipping Company, and owns around one third of the Gross Tonnage of Indian fleet. The fleet strength of the Company...

Sector:

Transport & Infrastructure

Executive Summary

_{(PDF 0.12 MB)}

Report No. 5 of 2011-12 Executive Summary he Shipping Corporation of India Limited (Company), a Navratna PSU under the Ministry of Shipping, GOI, is the country's largest shipping Company, and owns around one third of the Gross Tonnage of Indian...

Chapter 4 - Acquisition of Fleet

_{(PDF 0.14 MB)}

Chapter Acquistion of Fleet 4.1 | Fleet profile The Company has a total of 76 vessels with 29.26 lakh Gross Tonnage, with the average age of 18 years. The age of the vessel plays a crucial role in the earning as well as in the cost of operation...

Download Full Report _{(PDF 0.55 MB)}

18 July 2014

Compliance

Report No. 6 of 2014 - Compliance Audit on Indirect Taxes - Services Tax Union Government, Department of Revenue

This Report contains 151 audit observations pertaining to Service Tax, having revenue implication totalling RS 265.75crore. The Ministry/department had, till February 2014, accepted 147 audit observations involving revenue of RS 262.29 crore...

Sector:

Taxes and Duties

Chapter 1 - Services Tax Administration

_{(PDF 12.91 MB)}

Service Tax categories introduced in the recent past such as renting of immovable property and works contract services are some of the major performing categories. Besides the service categories listed in the table below, services such as construction of residential complex,...............

Download Full Report _{(PDF 28.71 MB)}

22 August 2012

Performance

Report No. 9 of 2012 - Performance Audit on Activities of Atomic Energy Regulatory Board Union Government, Atomic Energy

Radiation and radioactive substances have many beneficial applications, ranging from power generation to uses in medicine, industry and agriculture. At the same time, the risks of radiation that may arise from these applications to the people...

Sector:

Science and Technology

Chapter 2 – Regulatory framework for nuclear and radiation facilities

_{(PDF 0.13 MB)}

Report No. 9 of 2012-13 Chapter 2: Regulatory framework for nuclear and radiation facilities Audit Objective: Whether AERB has the necessary legal status, authority, independence and adequate mandate to fulfill the responsibilities expected of a...

Download Full Report _{(PDF 1.34 MB)}

Filter