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26A. Issuance of order to audit by empowered officer and appointment of auditor by Board.-
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26A. Issuance of order to audit by empowered officer and appointment of auditor by
Board.-
(1) A value added tax officer, not below the rank of Joint Commissioner, may order to audit the tax and tax related activities of a registered or registerable firms for a particular period of time and the officer or officers being ordered in this behalf shall, complete the audit on the basis of the Order issued by Board and Audit Manual and also following the provisions of this Act and the Rules made thereunder, within the specified time and, submit report to the Officer who ordered for such audit.
(2) After receipt of the audit report under sub-section (1), the ordering Officer shall, after proper examination the evasion of revenue and irregularity detected by the audit and if the firm audited raises any legal objection, settle it and shall, send the report to the concerned Adjudication Officer to take legal steps about the reported evasion and irregularities.
(3) Notwithstanding anything contained in sub-section (1), the Board may, by order, fixing reasonable remuneration and determining terms and conditions, appoint auditor to inspect stock of goods and to examine books of accounts of a registered or registerable person, and the auditor so appointed shall be deemed to be a value added tax officer for the purposes of this section.
(4) To fulfill the purposes of this section, a firm enlisted or required to be enlisted under Turnover Tax and a firm enjoying or claiming benefit of Cottage Industry shall also be deemed to be a registered or registerable person.
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