In the aforementioned subject, attention of Chartered Accountants/Cost Accountants is invited for audit of the Assesses U/s 66 of RGST Act. The Chief Commissioner of State Tax, Department of Commercial Taxes, Rajasthan recommends to prepare a panel of Chartered Accountants and Cost Accountants so as to nominate them for conducting special audit of accounts of Goods and Service tax Assesses as per provisions laid U/s 66 of CGST/RGST Act, 2017.
EOI should be submitted online on the website http://rajtax.gov.in/vatweb/ by…13/04/2022
Eligibility:-
Following conditions should be fulfilled by the Applicant so as to be nominated for the said Audit.
The applicant firm should be
i. a member of the Institute of Chartered Accountants of India/Institute of Cost Accountants/Regulatory Body of India and should have valid full time Certificate of practice issued by the respective institutes;
ii. Possess experience of at least five years of practice as Chartered Accountant/Cost Accountant;
iii. That the applicant or any partner/proprietor of the applicant firm having experience and practice as stated above should not have indulged in any unethical professional practice or professional misconduct including moral turpitude;
iv. Not be facing any investigation or enquiry by the CBIC or Govt. of Rajasthan or any of its subordinate offices for any violations under the Service Tax Law or the Customs Act, 1962 or the Central Excise Act, 1944, RVAT Act, 2006 or the Central / IGST / Rajasthan Goods and Service Tax Act, 2017;
Location of office:-
That the location of the office of the applicant/partner/proprietor having experience as stated above who is in charge of such office should be situated in the Rajasthan.
Selection Procedure :-
The selection will be as follows
i. All the applications received up to the last date for filing of application shall be scrutinized in terms of criteria/guidelines issued in this regard. The basic criteria for selecting the applicant would be the experience in audit/consultancy/representation in the Income Tax, Central Excise, Service Tax, VAT and GST matters, turnover, staff strength, audit experience etc.
The detailed evaluation criteria would be as follows:-
A. Experience- 15 Marks:-
Applicant’s existence in years after its registration (Provide copy of certificate of registration with Institute of Chartered Accountants of India/Institute of Cost Accountants of India):-
More than 5 years but less than 10 years : 60%
10 years or more but less than 15 years : 70%
15 years or more : 100%
(The above criterion carries 15 Marks.)
B. Empanelment- 15 Marks
That the applicant(s) has/have been empanelled as auditor with anyone of the following departments during the last 7 years (Provide copy of order/letter of empanelment with the Department(s)):-
1. Department of Income Tax
2. Department of Customs and Central Excise
3. Department of Service Tax
4. Department of Value Added Tax
5. Department of Goods & Services Tax
i) 01 Department of GOI/GOR or Other state Govt.- 4 Marks
ii) 02 Department of GOI/GOR or Other state Govt.- 8 Marks
iii) 03 Department of GOI/GOR or Other state Govt.- 12 Marks
iv) 04 or more than 4 Department of GOI/GOR or Other state Govt.- 15 Marks
C. Turnover- 15 Marks
That the applicant(s) has/have average annual turnover in last three financial years (Provide copies of full Income tax returns & Financial Accounts for the last three financial years):-
10 lakhs – 50 lakhs : 60%
50 lakhs – 1 crore : 70%
1 crore – 2 crore : 80%
More than 2 crore : 100%
(The above criterion carries 15 Marks.)
D. No. of Audit Assignments- 15 Marks
No. of Audit Assignments of Internal/Statutory/Forensic Audit of Corporate/PSUs entities, except Bank Branch Audit, for which the audit has been done in the last 5 years (Provide copy of order of assignment of such Audit):-
3 to 5 : 60%
5 to 10 : 75%
>10 : 100%
(The above criterion carries 15 Marks.)
E. Staff Strength- 15 Marks
That the applicant(s) or any partner(s)/proprietor of the applicant firm(s)/professional(s) has/have an office profile with staff strength of at least 5 (excluding typist, stenographers, computer operators, secretaries and subordinate staff etc.) consisting of audit and article clerks with the knowledge in book-keeping and accountancy and are engaged in outdoor audit (Provide details of staff engaged along with their names, educational qualification, date of engagement, contact details etc.):-
More than 20 : 100%
More than 10 but less than or equal to 20 : 75%
5 or more but less than or equal to 10 : 50%
(The above criterion carries 15 Marks.)
F. Approach Paper- 25 Marks
Applicant should submit brief approach paper (not exceeding 3000 words) covering the following:-
I. Challenges in the special audit of registered person under Goods & Services Tax Act, 2017.
II. Technical parameters/approach to assess compliance of various provisions of the GST Act, 2017 by the registered person.
III. Proposed methodologies to analyze & evaluate compliance on technical parameters.
IV. Proposed work plan for responding to the Scope of work.
V. Proposed solutions/methodology for a special audit for ensuring time bound determination of statutory liabilities of registered person.
VI. Proposed innovations in analysis, audit and follow up action for successful conclusion of such special audit through discharge of financial liabilities by registered person.
The minimum qualifying marks will be 50 based on the above evaluation criteria. The department intends to empanel top approximately 30 to 40 auditors in the first phase. Based on the evaluation of this pilot, the decision for further empanelment would be taken.
Out of empanelled candidates, audit would be allotted to the firms/person as and when required by the department at the sole discretion of the Chief Commissioner of State Tax, Department of Commercial Taxes, Rajasthan. Their performance would be monitored by examining the quality and findings of audit reports submitted by them.
G. Tenure-
The panel so made above shall be in force for a period of two years. However, in case of necessity, new person/firm can be added in the panel by following the prescribed procedure.
H. Cancellation
The empanelment of the Auditor will stand cancelled, without any prejudice to all available legal/other remedy/recourse in the event of any of the followings:-
a. If the empanelment has been obtained on the basis of false information/mis-statement.
b. If the Auditor does not take up the Audit in terms of the appointment/allotment letter.
c. If the Auditor fails to maintain/honour confidentiality & secrecy in all respect.
d. If the Auditor fails to comply with any of the eligibility criteria/other terms & conditions.
e. If the Auditor fails to provide the audit reports and mandated inputs of requisite quality within prescribed time limit.
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