4 central excise procedures

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  1. 1. Central Excise Procedures Ajay Babu Bandi Practising Chartered Accountant M.Com, FCMA,ACA,IFRS(Certified)
  2. 2. Registration Every Manufacturer of excisable goods is required to get his premises registered under the Central Excise Law Registration is also required for every prescribed person who carries on trade or holds private store-room or warehouse or otherwise uses excisable goods
  3. 3. Registration- -exception A manufacturer is exempt from registration if the goods manufactured by him attract NIL rate of duty Or if the goods are exempt from the whole of the duty SSI (availing benefit of SSI exemption notification) But submit a declaration if the value of clearances exceed ` 90 lakhs
  4. 4. Registration-Number The Assessee / Manufacturer is issued a 15 digit PAN based alpha numeric Registration Number and a Registration Certificate No renewal required
  5. 5. Payment of excise duty
  6. 6. Duty may be paid in cash through the Account Current, popularly known as PLA(Personal Ledger Account) Duty can also be paid by utilizing CENVAT credit balance available at the end of the month
  7. 7. Assessee who have paid Excise Duty more than or equal to ` 10 lakhs (including amount paid and CENVAT credit) are mandatorily required to pay the duty Electronically through internet banking
  8. 8. Failure to pay the amount of duty within the due date attracts interest at 18% per annum on the outstanding amount
  9. 9. Invoice - An invoice is the document under the cover of which the excisable goods are to be cleared by the manufacturer
  10. 10. Numbering - Invoice should be serially numbered It shall commence from 1st April every year
  11. 11. Contents - Registration number, Address of the excise division, Name of the consignee, Description, Classification, Time and Date of Removal, Rate of Duty ,Quantity, Mode of Transport , Vehicle Registration number and Value of Goods and the Duty payable thereon
  12. 12. Number of Copies Original for BUYER DUPLICATE for Transporter TRIPLICATE for Assessee
  13. 13. Return Filing Procedures