Amendment status not verified — confirm the current text below against the official source.
('l) The Commissioner or ony officer outhorised by him, by woy of o generol or o specific order, moy undertoke oudit of ony registered person for such period, ot such frequency ond in such monneros moy be prescribed. (2) The officers refened to in sub- section (l ) moy conduct oudit ot the ploce ol business ol the registered person or in their office. (3) The registered person sholl be informed by woy of o notice not less thon fifteen working doys prior to the conduct of oudit in such monner os moy be prescribed. (4) The oudit under sub-section (1) sholl be completed within o period of three months from the dote of commencement of the oudit: Audit by tox outhorities 198 Provided thot where the Commissioner is sotisfied thot oudit in respect of such registered person connot be completed within three months, he moy, for the reosons to be recorded in writing, extend the period by o further period not exceeding six months. Explonotion.-For the purposes of this sub-section, the expression'tomm- encementof oudit"sholl meon the dote on which the records ond other documents, colled for by the tox outhorities, ore mode ovoiloble by the registered person or the octuol institution of oudit ot the ploce of business, whichever is loter. (5) During the course of oudit, the outhorised officer moy require the registered person, (i) to offord him the necessory focility to verify the books of occount or other documents os he moy require; (ii) to furnish such informotion os he moy require ond render ossistonce for timely completion of the oudit. (6) On conclusion of oudit, the proper officer sholl, within thirty doys, inform the registered person, whose records ore oudited, obout the findings, his rights ond obligotions ond the reosons for such findings. (7) Where he oudit conducted under sub-sedion (l ) results in detec- tion of tox not poid or short poid or erroneously refunded, or input tox credit wrongly ovoiled or utilised, the proper officer moy initiote odion underseclion 73 or section 74. 199