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TMI BlogCentral Excise – New Format of RT-12 Return specified under Rules 54 and 173G of the Central Excise Rules, 1944 – Instructions Reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 has since been issued whereby new RT-12 Form has been prescribed, in place of the existing RT-3/RT-3 (modified) and RT-12 Forms. Rule 57AB has also been amended to clearly indicate the manner of utilization of Cenvat credit while discharging duty liability on fortnightly basis (or monthly basis in case of Small Scale Industries). 2. It may be noticed that no basic changes have been made in the said Return which may cast any significant additional burden on the assessee, while making certain modifications in the proforma. As duties required to be paid 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the first fortnight clearances comes to Rs.1000. The CENVAT Credit (relating to input and capital goods taken together) available on the 15th day is Rs.500/-. The Credit availed on inputs and capital goods received during the 16th day to 20th day, is Rs.200/-. The closing balance of CENVAT Credit available on 20th (the day he is discharging his duty liability) is Rs.700/-. However, he can use CENVAT Credit only to the extent of Rs.500/-, the Credit which was available on the 15th day of the month, for discharging the duty liability for the first fortnight. Same principle will apply to the payment of duty for the second fortnight. 4. In regard to the Small Scale Sector, the duty liability is to be discharged on a monthly basis. Though, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s are to be indicated at the end under Heading 9 10. 6. The assessee in view of the Notification No. 36/2000-Central Excise (N.T.) dated 28.04.2000 is required to furnish a detailed statement of the total credit of all the inputs/capital goods received during the month. This statement also gives a summary at the end of the month. The assessee should be asked to give the total of credit availed for all the receipts in the first fortnight, and the total credit availed for receipts in the second fortnight also while submitting this statement, apart from giving opening balance, total credit availed (on all imports/capital goods received during the month) as a whole etc. in the summary appended at the end of the statement. This will make it p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o pay duty on monthly basis. 8. The instructions in the form of "NOTES" given at the end of RT-12 return elaborate further the manner in which it should be compiled and the information furnished to the Department. The following are worth special notice in this regard:- (a) The RT-12 Return as notified now is to be used for purposes of both Rules 54 and 173G. The erstwhile forms RT-3 RT-3 (modified) have been omitted and Form RT-12 has been prescribed for the purposes of Rule 54 also. (b) The same form is to be used by Organised Sector as well as SSI units given facility of monthly payments - the later have to give details for a three months (under Item 5, 6 7) for the quarter for which return is filed. (c) Notes 2 and 3 to the RT-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uty payment will be consolidated adjustment through account current and CENVAT Credit account, as may be decided by the assessee. (e) Where, the duties are not paid within the stipulated period, the interest liability will have to be worked out and indicated in the return, the calculation sheet by the assessee should also be attached with the return to facilitate the checking by the range staff whether the proper amount of interest, if leviable, has been paid or not. 9. Please give wide publicity to the new RT-12 proforma and the provisions of the new returns for benefit of trade and industry. Doubts/difficulties noticed, if any, in the implementation of the new proforma /provisions may please be brought to the notice of the Board immedi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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