Excise audit

This query is : Resolved

sachin (Querist)
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15 December 2010 We have excise manufacturing registration. We are importing the material and selling it in india. We are taking CVD set off agaisnt excise libility. Yearly Excise liability comes hardly Rs. 35 lacs. After set off hardly we are paying Rs.15-20lacs throgh PLA. What are chances of excise audit.or is any provision of exemption of excise audit.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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15 December 2010 As per deptt. circular company where duty is paid through PLA 10 - 100 lacs - 7 working days audit will be conducted every year.

So you cannot avoid the audit.