Exim Consultants | COMPLIANCE & AUDIT
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Compliance Audit

Exim Compliance Audit has three objectives viz Income enhancement, cost minimization and procedural compliance.  Just as various schemes of the Government offer opportunities to maximize revenue and minimize costs, equally certain responsibilities are assigned to the assesse to comply with.  We at Exim have developed a tailor made product to address very specifically this need.

A thorough audit of all aspects of transactions with respect to three objectives would reveal to what extent the assesse took advantage of various schemes of the government. The audit would reveal the action points to be taken to address the shortcomings if any.  On the other hand, if the assesse is good on all points, whether any other mechanism can be built with future expansion in mind?  The audit would also answer this question.

The end of audit report would weigh an assesse on scale of 0 to 12.  There are 12 checkpoints to be addressed.  Therefore, successful scaling of each point gets a score of a point.

The tenure of this audit would take about 2 to 15 days depending upon the length of transactions and no of transactions to be audited.  And also, depends upon the cooperation of the operating staff in the organization.

Check Points For Exporters

  1. Are you availing incentives under focus products scheme, focus market scheme?
  2. If not, why you have not availed?
  3. Are you availing / utilizing advance license?
  4. If so, have you closed the obligation and cancelled Bank Guarantee with the       Customs ?
  5. Are there any issues with DGFT / Customs in this regard ?
  6. Have not imported machinery under EPCG Scheme ?
  7. If you have availed, are you monitoring the export obligation ?
  8. If you have completed the export obligation, have you bought the discharge (EODC) certificate, From the DGFT and cancel the bank guarantee with customs ?
  9. Are there any issues with the DGFT / Customs in the closure of EPCG license ?
  10. Are you availing duty draw back ?
  11. Are there any issues in realizing duty draw back ?
  12. Have you received any show cause notice / demand notice from DGFT / Customs / RBI ?
  13. Are you importing from countries with which India has FTA? If yes, have you looked in to the eligibility of concessional duty for your item? If yes, have you availed them?
  14. Are you selling imported goods? If yes, are you availing special additional duty (SAD) refund? If not, why not?