Service Tax Audit
Service tax audit is governed by the Central Board of Indirect Taxes and Customs (CBIC) and is carried out under Section 72A of the Finance Act, 1994. It applies to service providers whose annual taxable turnover exceeds the prescribed threshold. The audit aims to assess the correctness of service tax liability, the appropriateness of input tax credit claims, and the fulfillment of other statutory requirements.
Focus of Service Tax Audit
![](https://senthilca.com/wp-content/uploads/2023/10/compliance-1.png)
Taxable Services Verification
![](https://senthilca.com/wp-content/uploads/2023/10/compliance-1.png)
![](https://senthilca.com/wp-content/uploads/2023/10/compliance-1.png)
![](https://senthilca.com/wp-content/uploads/2023/10/compliance-1.png)
![](https://senthilca.com/wp-content/uploads/2023/10/compliance-1.png)
Books And Records For Services Tax Purposes
![transaction-history](https://senthilca.com/wp-content/uploads/2023/10/transaction-history.png)
Invoice Records
![invoice](https://senthilca.com/wp-content/uploads/2023/10/invoice.png)
Payment Records
![money 2](https://senthilca.com/wp-content/uploads/2023/10/money-2.png)
Input Service Tax Credit Records
![taxes](https://senthilca.com/wp-content/uploads/2023/10/taxes.png)
Service Tax Returns
![financial-statements](https://senthilca.com/wp-content/uploads/2023/10/financial-statements.png)
Accounts and Financial Statements
![money 2](https://senthilca.com/wp-content/uploads/2023/10/money-2.png)
CENVAT Credit Records
![package-box](https://senthilca.com/wp-content/uploads/2023/10/package-box.png)
Register of Input Services
![taxable](https://senthilca.com/wp-content/uploads/2023/10/taxable.png)
Register of Taxable Services
![contract](https://senthilca.com/wp-content/uploads/2023/10/contract.png)
Agreements and Contracts
![voucher](https://senthilca.com/wp-content/uploads/2023/10/voucher.png)
Receipt Vouchers
![import](https://senthilca.com/wp-content/uploads/2023/10/import.png)
Record of Export Services
![file](https://senthilca.com/wp-content/uploads/2023/10/file.png)
Register of Import Services
![document](https://senthilca.com/wp-content/uploads/2023/10/document.png)
Other Supporting Documents
Maintaining accurate and up-to-date books and records is not only a legal requirement but also essential for effective tax management, smooth service tax audits, and timely compliance with service tax regulations. Businesses should retain these records for the prescribed period as per the tax laws and be prepared to furnish them during audits or when requested by the tax authorities.