This document is a training report submitted by Ankit Mittal to Gauhati University in partial fulfillment of an MBA degree. It covers Ankit's training at Ernst & Young in New Delhi under the guidance of Prof. Arvind Basu. The report includes an introduction to the service tax sector, a profile of Ernst & Young, discussions on Ankit's work and learnings during the training, analysis of a selected research problem, and conclusions from the learning experience. Tables of data collected during the training are also included in an appendix.

1. TRAINING REPORT
ON
SERVICE TAX AUDIT
Submitted to
GAUHATI UNIVERSITY, GUWAHATI
in partial fulfillment of the requirements
for the award of the degree of the
MASTER OF BUSINESS ADMINISTRATION
(INDUSTRY INTEGRATED)
(III Semester)
Submitted by:
Name: Ankit Mittal
Regn. No. --- 069717
Roll No. --- 10-01-0164
GLOBAL SCHOOL OF MANAGEMENT SCIENCE
PUSHP VIHAR, SAKET, NEW DELHI

2. STUDENTS DECARATION
I hereby declare that the training report conducted at
ERNST & YOUNG, NEW DELHI,
Under the guidance of
Prof. Arvind Basu
Submitted in Partial fulfillment of the requirements for the
Degree of
MASTER OF BUSINESS ADMINISTRATION
(Industry Integrated)
TO
GAUHATI UNIVERSITY, GUWAHATI
Is my original work and the same has not been submitted
for the award of any other degree/diploma/fellowship
or other similar titles or prizes.
Place: New Delhi Ankit Mittal
Date: 30-12-2011 Reg. No.: 069717
Roll No.: 10-01-0164

3. CERTIFICATE
This is to certify that Ankit Mittal, a student of the Gauhati University has
prepared his training report entitled “Service Tax Audit” at “Ernst & Young,
Gurgaon”, under my guidance. He has fulfilled all requirements leading to award of the
degree of M.B.A. (Industry Integrated). This report is the record of bonafide training
undertaken by him and no part of it has been submitted to any other University or
Educational Institution for award of any other degree/diploma/fellowship or similar titles
or prizes.
I wish him all success in life.
Prof. Arvind Basu,
Professor,
GSMS, New Delhi

4. ACKNOWLEDGEMENTS
My own efforts apart, the success of any project depends largely on the
encouragement and guidelines of many others. I take this opportunity to express my
gratitude to the people who have been instrumental in the successful completion of this
project.
I owe my gratitude to Mr. Manoj Jalan, Manager (Finance), Ernst & Young for
his support and guidance. Thanks and appreciation to Mr. Manish Vashisht, Assistant
Manager (Finance) Ernst & Young for their support.
My deep regard and thanks go to my Institution and my faculty mentors, Prof.
Arvind Basu, who at various stages provided me with their valuable suggestions and
time.
ANKIT MITTAL

5. Contents Page No.
CHAPTER 1 INTRODUCTION
1.1 General introduction about the sector 1
1.2 Industry Profile
CHAPTER 2 PROFILE OF THE ORGANIZATION
2.1 Origin of Organization
9
2.2 Service Profile of Organization
2.3 Market Profile of Organization
CHAPTER 3 DISCUSSIONS ON TRAINING
3.1 Work Profile, Tools and Techniques used 14
3.2 Key Learnings
CHAPTER 4 STUDY OF SELECTED RESEARCH PROBLEM
4.1 Statement of Research Problem 20
4.2 Statement of Research objectives
CHAPTER 5 ANALYSIS
5.1 Analysis of Data 21
5.2 Summary of findings
CHAPTER 6 SUMMARY AND CONCLUSIONS
6.1 Summary of Learning Experience 32
6.2 Conclusions & Recommendations
LIST OF TABLES; APPENDIX; BIBLIOGRAPHY
LIST OF TABLES
SI No. Table No. Table Title Page No.
1 Table 3.1 Missing vouchers amount year wise and city wise. 15

6. 2 Table 5.1 Service tax revenue (All India from 2000-01 to 21
2009-10)
3 Table 5.2 Zone wise service tax collection for F.Y. 2008-09 & 22
2009-10
4 Table 5.3 Rate of service tax applicable 25
5 Table 5.4 Rate of interest charged on delayed payments 26
6 Table 5.5 Categories of Services 27
7 Table 5.6 Forms needed for service tax 31

7. APPENDIX
Table 1: A specimen of excel records of service tax paid
Sum of Service
S.No. Name Voucher No. Tax Credit Vouchers Photo Copy Ankit - Remarks
3 R.B.Shah & Associates 701A-EYPL-AP0007 1,854 Received ok
5 B.M. Courier & Cargo 701A-EYPL-AP0010 1,001 Received ok
6 First Advantage Private Limited 701A-EYPL-AP0012 696 Received ok
7 Lakshmmi Subramanian & Associates 701A-EYPL-AP0014 100 Received ok
8 IR Moving Concept Pvt. Ltd. 701A-EYPL-AP0022 2,287 Received ok
10 Pragati Green Meadows And Resorts Ltd. 701A-EYPL-AP0030 3,538 Received ok
11 GoPlaces 701A-EYPL-AP0031 2,756 Received ok
13 First Advantage Private Limited 701A-EYPL-AP0035 560 Received ok
14 Prozone Electronics Pvt. Ltd. 701A-EYPL-AP0036 144 Received ok
15 Blue Dart Express Ltd. 701A-EYPL-AP0037 350 Received ok
16 Reliance Webstore Limited 701A-EYPL-AP0038 7,802 Received ok
17 Ketan P. Lakdawala 701A-EYPL-AP0039 612 Received ok
19 Webex Communications India Private Limited 701A-EYPL-AP0041 1,296 Received ok
20 E Milestones 701A-EYPL-AP0042 62,418 Received ok
23 Mind Mentor. 701A-EYPL-AP0056 12,978 Received ok
25 Freight Systems (India) Pvt. Ltd. 701A-EYPL-AP0058 865 Received ok
26 Kelly Services India Pvt. Ltd. 701A-EYPL-AP0061 2,214 Received ok
27 A. Kochar & Associates 701A-EYPL-AP0062 21,998 Received ok
28 Character Sketches 701A-EYPL-AP0064 5,021 Received ok
29 Yatin Mehta 701A-EYPL-AP0066 8,281 Received ok
30 Etrends Communications 701A-EYPL-AP0069 5,933 Received ok
32 Chetan Mayur & Co 701A-EYPL-AP0072 741 Received ok

8. Table 2: A specimen of excel record of different heads under which the file is
segregated for efficient analysis under each head
07-08(complete)(tallied)
Sum of Sum of Service Tax Credit
Vouchers Photo Copy Total
Bank voucher 259,707
Car Hire 6,505,437
Hyderabad vouchers required 41,647
Incomplete 6,610
Inter-entity 236,235,789
Invoice not available 7,311
Received 41,485,269
Required 786,932
Reversed voucher (2,719)
SSL Voucher 24,564,578
Travel 120,739
Travel Insurance 44,466
Not Required (15,182)
Invoice not attached with voucher 1,004
Kolkata Voucher 1,730
Mumbai Voucher 16,120
Grand Total 310,059,438

9. BIBLIOGRAPHY & REFRENCES
• www.servicetax.gov.in
• www.ey.com
• www.icai.org