Company Secretary can not conduct special Audit of Service Tax.

In the Chapter V of Finance Bill, 2012, (Service Tax)  clause 72A proposes 'Special Audit', where the Commissioner of Central Excise has reason to believe  that any person liable to pay Service Tax has failed to declare or determine value of the taxable service or availed undue credit as specified therein.. etc., then he may direct such person to get his accounts audited by  Chartered Accountant or Cost Accountant nominated by him.

 

Here, the word ‘Company Secretary’ has not been mentioned. As a result the CS community will not be eligible to be nominated to conduct audit.

 

AMIT SEHGAL, B.COM.,F.C.S.,LL.B
COMPANY SECRETARY