Service Tax Audit Manual — Salient features

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..... since then the scope has been extended considerably. At present, 58 services are subjected to levy of Service Tax. The revenue from Service Tax sector has also been growing appreciably over the time. The audit of selected services (telephones, non-life insurance and stock brokers) was started in the year 1996. Subsequently, the same was extended in 2002 to cover certain selected service providers .....

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..... l of Audit. 3. The salient features of the Audit Manual are : (a) Legal provisions for levy and collection of service tax are indicated in one place. (b) Principles of auditing of Service tax-payers based on modern methodology are enumerated. (c) Guidelines are provided for selection of tax-payers for auditing based on risk assessment technique. (d) Detailed guidelines are provided for p .....

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..... of service tax is fundamentally following the principle of believing in bona fides of the tax-payer and trust is reposed on voluntary compliance, it is expected that the Audit Manual shall be able to provide valuable guidelines. 5. Field formations may please be informed suitably. 6. Receipt of the circular may be acknowledged. 7. Hindi version will follow. - Circular - Trade Notice - Pub .....

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