Central Excise Rules, 2001 provide that the assessee shall be required to file certain periodic returns, which relate to his tax liability and other transaction. Part-II RETURN Introduction 1.1 The Central Excise (No.2) Rules, 2001 (hereinafter referred to as the said Rules) provide that the assessee shall be required to file certain periodic returns, which relate to his tax liability and other transaction, such as relating to CENVAT credit . Monthly/Quarterly Return 2.1 Rule 12 of the said Rules has provides that every assessee shall submit to the Superintendent of Central Excise a monthly return in proper form, of production and removal of goods and other relevant particulars, within ten days after the close of the month to which the return relates. However, where an assessee is availing of the exemption under a notification based on the value of clearances in a financial year, he shall file a quarterly return in proper form, of production and removal of goods and other relevant particulars, within twenty days after the close of the quarter to which the return relates. The prescribed return is E.R.1 Return, notified by Notification No. 48/2001-Central Excise (N.T.) dated 26.6.2001. (Anneuxre-12) 2.2 As duties payable on individual consignments need not be paid at the time of removal from the factory or approved place of storage, and sum total of this duty liability can be discharged on fortnightly basis in respect of clearances for a fortnight, certain details for removals for each fortnight, duties payable and the manner in which the actual duty payments are effected by the assessee, the interest payment - if any, where duties paid beyond permitted dates etc. have been specified in the E.R.1 Return. 2.3 The assessees would continue to submit alongwith the E.R.1 Return for the month, copies of the PLA and relevant TR6 challans etc. The PLA Extracts will give details of all the credits made through TR6 challans during the month and upto the 5th of the following month – upto which the duty liability can be discharged for the month. A summary could also be put at the end of the PLA Extracts indicating the following: opening balance, after discharging the duty liability for the second fortnight of the previous month; the credits made during the month; and upto the 5th of the following month; total duty discharged through PLA for the first fortnight; total duty discharged through PLA for the second fortnight; and closing balance in the PLA after discharging the second fortnight duty liability. 2.7 The units in the SSI sector could suitably modify this summary, as they are required to pay duty on monthly basis. 2.8 The instructions in the form of "NOTES" given at the end of E.R.1 return further elaborate the manner in which it should be compiled and the information to be furnished to the Department. 2.9 Return to be filed by Hundred per cent Export Oriented Undertakings/Units in Free Trade Zones/Units in Special Economic Zones is the E.R.2 Return, notified by Notification No. 49/2001-Central Excise (N.T.) dated 26.6.2001. (Anneuxre-13)
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 26-07-2024 Budget proposals for marine sector to boost India's aquaculture, seafood exports: MPEDA Date: 26-07-2024 India's duty cut halts concessionary silver, platinum imports from UAE Date: 26-07-2024 Govt eases norms for EPCG license holders Date: 26-07-2024 Government was sleeping at wheel: Congress on 'fall' in India's garment exports Date: 25-07-2024 India to get a three-tiered GST regime in next few months? Date: 25-07-2024 Budget 2024: Cut in customs duty, credit guarantee scheme for MSMEs to help boost mfg, exports: Expe Date: 25-07-2024 'Too high' import duty cut on gold to help contain smuggling, boost exports: CBIC Date: 25-07-2024 Budget 2024: No changes in RoDTEP, drawback schemes or 45-day payment rule a miss for MSME exporters Date: 24-07-2024 Budget earmarks Rs 1.28 lakh cr for telecom min; BSNL gets lion's share of Rs 82,916 cr Date: 24-07-2024 Gold and silver to become cheaper, customs duty cut to 6% What is New? Date: 23-07-2024 Notification No. 39/2024-Customs Seeks to amend notification No. 45/2017-Customs dated 30th June, 2017 in order to extend the time period of re-import. Date: 23-07-2024 Notification No. 51/2024-Customs (N.T.) Seeks to amend Customs Tariff (Identification, Assessment and Collection Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995 to provide for New Shippers Review Date: 23-07-2024 Notification No. 29/2024-CUSTOMS Seeks to amend notification No. 154/94-Customs dated the 13th July, 1994 which provides for duty free import of commercial samples. Date: 23-07-2024 Notification No. 31/2024-Customs Seeks to amend notification No. 11/2021-Customs dated 1st February, 2021 so as to revise AIDC applicable on certainitems. Date: 23-07-2024 Notification No. 33/2024-Customs Seeks to amend notification No. 57/2000-Customs dated 8th May 2000, which provides concessional rate for gold, silver and platinum imported under specified schemes. Date: 23-07-2024 Notification No. 34/2024-Customs Seeks to amend notification related to electronics including Nos.25/1999-Customs, 25/2002-Customs and 57/2017- Customs. Date: 23-07-2024 NOTIFICATION No. 35/2024-Customs Seeks to amend notification No. 8/2020-Customs dated 1st February, 2020 in order to revise Health Cess on certain items. Date: 23-07-2024 Notification No. 36/2024-Customs Seeks to provide exemption/concessional rate of BCD and SWS to critical minerals. Date: 23-07-2024 Notification No. 37/2024-Customs Seeks to amend notification no. 27/2011-Customs dated 1st March, 2011 in order to amend the export duty on specified items of raw hides, skins and leather. Date: 19-07-2024 Notification No. 50/2024 –Customs (N.T.) Amendment to Notification No. 24/2023-Customs (N.T.) dated 01.04.2023 - Extension of RoDTEP support to exports by unit in SEZ.
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