we have recd notice from commissioner of ST for Audit on teh records for 5yrs, what is the time with in which we have to respond if they have not mention any time in notice, what is the time with in which we have to ask for adjounment or respond to the notice.
2 Replies
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 05 July 2011
Normally 15 days to one month notice is given for audit. A detailed desk review will be conducted by the audit party before they visit your premises. Hence they may require the doduments at least two weeks before audit visit. Since there is no specified time limit , you can call them over telephone and seek extended time informally.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 05 July 2011
The notice served to you is likely to ask you documents viz turnover, final accounts , trial balance to department for their audit fixation, after your submission they will convey the tentetive dates well in advance.
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