TMI BlogAudit for closed unitX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear All. One of our unit closed in Dec-15 and RC was surrendered. The unit was started in Jul-14. Whether the audit will come for closed unit? All records to be kept at what period ? For your v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aluable commends, Thanks in advance Venkat - Reply By Ganeshan Kalyani - The Reply = Sir the assessment is a deemed assessment in Central Excise. However the department may issue Notice in case o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f not involving fraud, collusion or suppression of facts etc., within a period of two years. And in case there is fraud, collusion or suppression of facts the department may issue notice within a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod of 5 years. Hence it is advisable to keep the records intact upto to such period. Thanks. - Reply By KASTURI SETHI - The Reply = A unit whose turnover is less than 60 lakhs they are not to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e subjected to audit. However, if any unit under the doubtful category audit can be conducted. As opined by Sh.Ganeshan Kalyani, Sir. You are to wait for and keep the records intact for five years. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Do not take initiative in this regard. Sometimes audit is conducted on random basis for SSI units. - Audit for closed unit - Query Started By: - venkat eswaran Dated:- 31-3-2016 Central Excise - Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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