Audit Reports

33 of 2014 (Performance Audit) arithmetic accuracy of duty computation, completeness (permanent account number (PAN), description of the item, registration details of the unit etc.), timeliness (timely submission of return and timely payment of duty) and to identify non-filers and stop......

ACES Automation of Central Excise and Service Tax ACMA Automotive Component Manufacturers Association CAGR Compound Annual Growth Rate CAS Cost Accounting Standard CBEC Central Board of Excise and Customs CENVAT Central Value Added Tax CERA Central Excise Receipt Audit CR coils Cold Rolled......

Commissionerate revealed that the assessee had received an amount of ' 826.82 crore and ' 68.95 crore during 2010-11 and 2012-13 respectively on account of deferred sales tax benefits. As per provisions mentioned above, Sales Tax amount so collected but not paid to the Government was to be......

This also indicated a gap in synchronization of activities and coordination between Government agencies. Delays on account of environmental clearance and land acquisition led to increase in cost of projects apart from affecting the revenue stream of the Gol in premium projects. Further,......

(-) 6112.97* 2902.06 14199.89 17101.95* 14261.03 7730.06 * Includes 6183.56 crore payable to Government for the period prior to 1 April 2010 on account of toll and negative grant etc. transferred to Capital account during the year 2012-13. Chart 5: Sources and application of funds Funds......

7.3 Need to monitor project wise profitability: NHAI does not maintain project wise accounts which are essential to assess the profitability of a particular project. As such, it was not in a position to assess whether its decisions to go in for improvements to particular stretches were......

Hence, the cost reduction was on account of reduction in the scope of work and was hence not comparable with the earlier cost of the project. The project approved at earlier cost was without any VGF, whereas the project in question has been awarded at a VGF of 306 crore. Further, the......

36 of 2014 Article 31.3.1 of CA as well as the escrow agreement provides that withdrawals from escrow account during the concession period can only be as per order of preference specified in CA such as taxes due, construction of the project highway, payment of concession fee etc. and surplus......

Users have to pay an additional toll of 28095.54 crore (NPV 3233.71 crore). (Para 4.3.1) NHAI incurred 856.80 crore on account of change of scope in 23 projects, out of which 662.53 crore was on account of deficient Detailed Project Report (DPR)/Feasibility Report (FR). (Para 5.9) •......

Further, there was no system to monitor the exemptions given on account of Service Tax, Stamp Duty etc. Consequently, a reliable estimate of the magnitude of the total tax concessions provided, could not be made. SEZ online system is a Database Management system and a life line for working of......

on the basis of ( units/Developer j recommendation from Zonal DC that all the exemptions2 availed by the Developer/Unit is deposited to Government Account In de-notification application (Form C6), the Development Commissioner has to certify that an amount equivalent to tax/duty exemption......

The above account calls for a review of the single window system in various States to unplug the loopholes. In a recent study (1 May 2014) report of the Department of Industrial Policy and Promotion (MOC&I) on improving the Business environment in India, Single Window Clearance has been one......

on all counts i.e, Exports, Employment and Investment as detailed below: There was an increase in the projections made by M/s Wipro Manikonda on account of Exports, Investment and Employment by 415 per cent, 15.18 per cent and 21.32 per cent. Similarly, in the case of M/s CMC Gachibowli, the......

Questions have already been raised on account of loss of revenue on tax holidays and the effect on agriculture production. An Expert Group Report11 released by the Planning Commission had called into question the benefits of SEZs. Monitoring of acquisition/de-notification of land needs to be......

Further, there was no system to monitor the exemptions given on account of Service Tax, Stamp Duty etc. Consequently, a reliable estimate of the magnitude of the total tax concessions provided could not be made. DoC does not have any IS Strategic plan for Database Management System of the SEZs......

The Audit Report has been prepared in accordance with the Performance Audit Guidelines and Regulations on Audit and Accounts, 2007 of the Comptroller and Auditor General of India. Audit wishes to acknowledge the co-operation received from PGCIL, POSOCO and Ministry of Power, Government......

lines under inter-state increased from 22000 ckm in 1992-93 to more than 105000 ckm in January 2014; Inter-regional power exchange takes place on account of supply-demand 17 Total lines - 3743; Inter-regional - 45 (765 k ( 400 k V and 220 kV) \n\ Report No. 18 of 2014 gap in inter-connected......

PGCIL received 906.49 crore between 2004-05 and 2012-13 on account of the above mentioned 25 per cent (12.5 per cent in case of inter regional) component of STOA charges but did not maintain project-wise details of inter-regional/intra regional transmission schemes where such STOA charges were......

lines under inter-state increased from 22000 ckm in 1992-93 to more than 105000 ckm in January 2014; Inter-regional power exchange takes place on account of supply-demand 17 Total lines - 3743; Inter-regional - 45 (765 k ( 400 k V and 220 kV) \n\ Report No. 18 of 2014 gap in inter-connected......

While ‘Scheduled’ power is supported by contracts between buyers and sellers, UI flows are settled subsequently by RLDCs which maintain the UI Accounts. The UI mechanism was based on the philosophy that the ‘Schedule’ was meant to serve as operational and commercial datum and the......

inter-regional corridors was assessed by PGCIL based on addition of physical capacity of individual lines connecting two regions without taking into account its total power transfer capability (TTC). Cumulative transmission capacity at the end of XI Plan arrived at by adding physical capacity of......

MOCA assured the Public Accounts Committee (PAC) during the examination of Audit Report No. 5 of 2012-13 that the second airport in Mumbai may not be needed till the traffic reaches the saturation point of 40 mppa. Adequate safeguards would need to be provided and ensured so that interests......

Revenue from non aeronautical sources accounted for 64 per cent of total revenue of MIAL. Besides, non-aeronautical revenues (excluding cargo revenue) registered 304 percent growth in 2012-13 over 2006-07 revenues. In contrast, the growth of aeronautical revenues has been modest, growing by 81......

5 of 2012-13 in August 2012. The report was examined by Public Accounts Committee (PAC) of Parliament and the final report of PAC was presented in Parliament on 06 February 2014. The present report on the implementation of PPP at Chhatrapati Shivaji International (CSI) Airport, Mumbai, has been......

On account of their cross design, simultaneous operation of both runways, however, is not possible. This, in turn, places a design constraint on the handling capacity of runways. |3.2 Design constraint to capacity In the Initial Development Plan submitted by the GVK led consortium (JV partner] at......

This delay, however, did not affect the concessionaire adversely as MIAL had not been penalised on this account and MOCA/AAI instead, approved extensions and agreed to reschedule the projects across different phases. As a result of the delay in project implementation, the terminal building is......

44 Passenger Service Fee (Security Component) 53 - Escrow Account............................................... Conclusion and Recommendations................. 57 Glossary............................................................... 61 i......

Regulatory Authority of India (AERA), Operation, Management and Development Agreement of 2006, Passenger Service Fee (Security Component) Escrow Account, etc. The Report has been prepared for submission to the President of India under Article 151 of the Constitution and is in continuation of......

MIAL's letter (July 2008) to AAI, Technical Auditor's and Financial Auditor's Reports (September 2012) Progressive cost escalations were largely, on account of the following: 2008: The project cost increased by 68 per cent in comparison to 2006 estimate. The major contributor to the increase......

However, the latter account for only 2966 outlets (7 per cent) against 42138 retail outlets operated by OMCs as of 1 April 2012. Details of year-wise sale of regulated products viz. HSD, MS, domestic LPG and PDS Kerosene by OMCs during the period 2007-08 to 2011-12 are given in Chart 10.......

(Para 3.1.4) There is a mismatch between the actual transportation cost and the amount factored in the product pricing on account of freight. OMCs were compensated slightly higher than the actual cost, the compensation calculated based on actual cost incurred on various modes (and not on......

Taxation contributes significantly to the RSP of products paid by the end consumer. Central and State taxes together account for 19 per cent of the RSP of HSD at Delhi (August 2012). While Central taxes have been periodically rationalized, the State taxes varied widely and at ad-valorem rates......

at two places and using the value at the 'item' level for levy of anti-dumping duty and that any short-levy pointed out by audit then could be on account of assessment lapse. Analysis of ICES 1.5 data on 32,83,674 BEs given OOC during the year 2012-13 revealed that the COO data, appearing......

Notification NRM National Risk Management NSM National System Manager NT Non Tariff OOC Out of Charge PA Performance Audit PAN Permanent Account Number PCA Post Clearance Audit PMU Project Management Unit PwC Price Waterhouse Coopers RBI Reserve Bank of India RMD Risk Management Division......

ASSIGNMENT OF A legal transfer of debt account from a creditor (assignor] to DEBT a third party (assignee] that then becomes the rightful owner of the account for purposes of resolving the debt through collection from a debtor. BIFR Board of Industrial and Financial Reconstruction BPLR......

f 20 crore by issue of equity shares and buy back of equity shares (already held by the Trust) worth f 2,76 crore for f 5.38 crore after taking into account the discounted value of future payments as per the CDR package. Under the CDR package and OTS package, the Trust received f 359.41 crore......

#2 NA - Not available]. Substantial short recovery (below NLO) occurred on large NLO accounts such as Mideast Integrated, Krishna Filaments, Pasupati Spinning and Weaving Mills, I.G. Petrochemicals and Shree Rama Multitech Ltd. The personal guarantees of some of the promoters of these firms......

The Trust was not pursuing the recovery proceedings with the required seriousness and was entailing a notional loss of? 30 lakh every month on account of interest In view of the above lapses, the DRT imposed a penalty of 20,000 on the Trust to be deposited with the DRT Bar Association,......

Chapter IX Conclusion 9.1 The real liability assumed by the GOI figures in the public account of India. The notional loan [an asset) is figuring in the Consolidated Fund of India. The necessity to protect IDBI from loss due to......

Therefore, it was imperative to conduct a performance audit, taking into account both inter-related components of the scheme (DEPB) and non scheme, Preferential Trade Agreement (PTA) related incentives (CECA) to exports which could help in formulating reward and incentive schemes by DoC in......

With the result, the trade balance has been widening and in 2004-05 the current account balance turned negative and has remained in the deficit ever since. This has important implications for price stability and economic growth. Experts in Government and in Public Policy research, have near......

in case of supply by a DTA unit to a SEZ unit/SEZ Developer/Co- Developer, the exporter may apply for credit for exports made from foreign currency account of SEZ unit/SEZ Developer/Co-Developer. Flowever, the exporter shall also be entitled for DEPB benefit in case payment is made in Indian......

(Paragraphs 3.1 to 4.21) 5. Audit recommends that while impact or outcome studies of schemes are done, DoC/DoR must take into account the intertwined components of scheme based rewards and incentives and PTA based incentives to the exporters/importers and manufacturers, to draw the complete......

Controller Aid Accounts and Audit, Department of Economic Affairs informed (October 2012) that various Export Promotion Licences issued by DGFT were to be audited by them but they have not conducted any such audit. DGFT in their policy circular dated January 2000 and October 2003 on licences......