This Report for the year ended March 2015 has been prepared for submission to the President of India under Article 151 of the Constitution of India.
The Report contains significant results of the compliance audit of the Central Board of Excise and Customs under the Department of Revenue – Indirect Taxes (Central Excise) of the Union Government. The instances mentioned in this Report are those, which came to notice in the course of test audit for the period 2014-15; as well as those which came to notice in earlier years but could not be reported in the previous Audit Reports. The audit has been conducted in conformity with the Auditing Standards issued by the Comptroller and Auditor General of India.
The Central Excise collection was Rs 1,89,038 crore during financial year 2014-15 (FY15) and accounted for 34.61 per cent of Indirect Tax revenue in FY15. Indirect Tax collection has fallen as a ratio of GDP while as a ratio of Gross Tax revenue, it has increased in FY 15 vis-a-vis FY14.
This Report has 64 audit observations on Central Excise duties, having financial implication of Rs 147.87 crore. The Ministry/Department had, till December 2015, accepted audit observations involving revenue of Rs 135.85 crore and reported recovery of Rs 27.95 crore.