| Date: |
06-09-2005
|
| Notification No: |
Central Excise CIRCULAR
|
| Issuing Authority: |
Central Excise
|
| Type: |
Circular
|
| File No: |
|
| Subject: |
Advisory Committee on Abatement
|
In pursuance of the announcement of the Hon�ble Finance Minister in his Budget Speech 2005-06, the Ministry of Finance set up an Advisory Committee to advise the Government on abatement of excise duty and service tax vide Order F.No.354/30/2005-TRU dated 3.5.2005 and a Press Release to this effect was also issued on the same day.
The Government has been receiving representations seeking increase in the level of abatement for the purpose of levy of excise duty and service tax. It has been observed that in a number of cases, the representations from the trade and industry for increase in the level of abatement have come without adequate data in support of their claims warranting change in the level of abatement. The Advisory Committee on Abatement is unable to examine and take a view on such requests in the absence of required data supporting such claims.
In order to enable the Advisory Committee on Abatement to take a view on such requests expeditiously, it is requested that any request relating to abatement either for excise duty or service tax purposes needs to be sent along with the information in support of the claims and the supporting books of accounts. The information furnished is to represent and cover the different sections of the industry and is to be complete. In addition to other relevant information, the following information also needs to be furnished:
Trade practice on sale pattern and the nature of trade margins and discounts.
Calculation based on the actuals of different segments of the industry (small, medium and large) and of recent data. Trade and Industry Associations are requested to advise their members to follow these instructions so as to facilitate the Advisory Committee to decide on such representations expeditiously.
(R.Sriram)
Deputy Secretary
Tel: 23092634 F.NO.354/30/2005-TRU
|
|
|