Post on 22-Jan-2018
Central Excise Procedures
• Ajay Babu Bandi
Practising Chartered Accountant
M.Com, FCMA,ACA,IFRS(Certified)
RegistrationEvery 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
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
Registration-NumberThe Assessee / Manufacturer is issued
a 15 digit PAN based alpha numeric
Registration Number and a Registration
Certificate
No renewal required
Payment of excise duty
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
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
Failure to pay the amount of duty within the
due date attracts interest at 18% per
annum on the outstanding amount
Invoice - An invoice is the document
under the cover of which the excisable
goods are to be cleared by the
manufacturer
Numbering - Invoice should be serially
numbered
It shall commence from 1st April every year
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
Number of CopiesOriginal for BUYER
DUPLICATE for Transporter
TRIPLICATE for Assessee
Return Filing Procedures