The Central Board of Indirect Taxes and Customs (CBIC) has notified the Customs Audit Regulations, 2018 wherein the scope of ‘audit’ and the selection on risk evaluation has been widened.
As per the regulations, “audit” to include examination or verification of declaration, record, entry, document, import or export license, authorization, scrip, certificate, permission, books of account, test or analysis reports, and any other document relating to imported goods or export goods or dutiable goods, and may also include inspection of sample and goods, if they are available and where necessary, drawl thereof.
Selection of auditee or selection of import or export declarations for the purpose of audit shall primarily be based on risk evaluation through appropriate selectivity criteria.
It provided that If the proper officer, having regard to the nature and complexity of the audit, is of the opinion that the audit has to be done with the assistance of a professional like Chartered Accountant, Cost Accountant, an expert in the field of computer sciences or information technology etc., may do so, with the previous approval of the Principal Commissioner/Commissioner of Customs.
As per the Reglations, any auditee, who contravenes any provision of these regulations or abets such contravention or fails to comply with any provision of these regulations with which it was his duty to comply, shall be liable to a penalty which may extend to fifty thousand Indian rupees.
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