Audit Reports

AND FINANCIAL REPORTING ISSUES OF PANCHAYATI RAJ INSTITUTIONS Introduction 1.1 1 Organisational Setup of PRIs 1.2 2 Functioning of PRIs 1.3 2 Formation of various Committees 1.4 4 Audit Arrangement 1.5 4 Response to Audit Observations 1.6 5 Lokayukta 1.7 5 Social Audit 1.8 6 Submission of............

Three Companies neither earned profit nor incurred loss . The newly formed two PSUs viz., Tamil Nadu Polymers Industries Park Limited and Madurai -Thoothukudi Industrial Corridor Development Corporation Limited did not finalise their accounts . Heavy losses were incurred by Tamil Nadu Generation............

Thus, failure to allocate sufficient funds for creation of nurseries, non -creation of sanctioned nurseries, absence of adequate infrastructure and dismantling of 15 ` 1.3 0 lakh towards installation of s hade -net house of 544.320 sq m; ` 2.05 lakh for installation of three p oly -houses of............

Sales tax ( ` 57,522.03 crore) formed a major portion (7 1 per cent ) of the tax revenue of th e State. Interest receipts, dividends and profits ( ` 3,093.50 crore ) accounted for 3 5 per cent of the non -tax revenue. (Paragraph 1.1 ) Test check of records relating to commercial taxes, state............

The decade ending 2010 had posed challenges to BHEL in the form of climate change, increased competition and squeezed delivery schedules with em ergence of new competitors. In the face of these challenges, BHEL’s turnover declined sharply post 2012-13 and the Company reported a loss in 2015-16.............

Audit wishes to acknowledge the cooperation receive d from the Department of Revenue, Central Board of Excise and Customs and its field formations at each stage of the audit process. Report \bo. 31 of 2017 (Performance Audit) iii Executive summary We conduc\bed a Performance Audi\b on levy and............

This involved tax effect of ` 93.05 crore. [Para 2.8.3] ITD disallowed statutory dues in the form of taxes in 39 assessment cases during computation of income under normal provision s but were not considered under MAT. Allowance of statutory dues i n computation of MAT involved tax effect of `............

(Paras No. 3.3.1 to 3.3.4 and 3.3.6) Suspected excess payment ( `  12.12 crore) by way of improbable stack formation, treatment of one activity (standardization work) as two or three different activities (refilling/rebagging and weighment/stacking), exces s certification of............

51 Negotiation with bidders 7.2 53 Deficient technical evaluation 7.3 53 Fresh NITs not invited despite revision in Bill of Quantity 7.4 58 Cartel formation 7.5 58 E - tendering 7.6 59 CHAPTER - 8 AWARD OF CONTRACTS Delay in finali s ation of contracts 8.1 61 Loss due to less stamp duty charged............

in ta x remaining unrealised on which interest was additionally leviable 2.8 36 Irregular allowance of concessional rate of tax against declaration forms issued by an unregistered dealer resulted in short levy of tax on which interest was additionally leviable 2.9 37 Incorrect grant of............