VAT

Special audit of UP VAT refunds issued in FY 2016-17 and 2017-18 till July 2017 ordered

Special audit of UP VAT refunds issued in FY 2016-17 and 2017-18 till July 2017 ordered where single refund amount was Rs 10 lakhs or more.

Special audit of UP VAT refunds 

Commissioner , Uttar Pradesh Commercial Tax has issued order for special audit of refunds issued during FY 2016-17 and FY 2017-18 (till July 2017) wherever the amount of a single refund was Rs. Ten lakhs or more.

The office order dated 21st August, 2017 which has been issued in this respect states that it had been repeatedly instructed that before grant of the refund, its verification by the concerned official is mandatory.

The letter also states that from the preliminary investigation of files related to large amount of refunds in connection with the refund of Rs. 22.11 crores granted in Kanpur, it has come to light that few such refunds have been granted in which firms related to purchases were non-existent. Information of verification was sent to wrong zone officer. In the documents presented by the Exporters, there is difference in the places of exports. Showing purchase at higher rate, the goods has been sold at a lesser price. Documents sent for verification did not include details of all invoices related to purchases. This situation is very serious and represents poor monitoring of the supervising officials.

The letter instructs that the said special audit must be completed by 20th September, 2017 and recommendation for action to be taken against the defaulting officials should be sent by 15/10/2017.

 

 

Share

Recent Posts

  • Income Tax

Form 26 to replace Form 3CD of tax audit report by a CA from Tax Year 2026-27

Form 26 to replace Form 3CD of tax audit report from Tax Year 2026-27 Draft Form 26 has been issued…

3 hours ago
  • Income Tax

When no addition is made on the basis of reasons recorded, reopening is bad in law

When AO do not make any addition on the basis of the reasons on which the reopening was done, the…

4 hours ago
  • Insurance

No separate compensation for loss of love and affection under MV Act – SC

Under MV Act separate compensation can not be granted under the head “loss of love and affection” – Supreme Court…

23 hours ago
  • Income Tax

Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G

Trust accredited by National Institute of Open Schooling eligible for registration u/s.12AB and u/s 80G of the Act. In a…

1 day ago
  • Income Tax

Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court

Delay in furnishing Form 10B – Period between 15.03.2020 till 20.08.2022 to be excluded as per decision of Hon'ble Supreme…

3 days ago
  • Income Tax

Section 271AAB does not grant any immunity from penalty in terms of section 273B

Section 271AAB does not grant any immunity from penalty even if the assessee was able to show some reasonable cause…

3 days ago