9911796707
TMI BlogASSESSMENT, CLASSIFICATION, VALUATION, PROVISIONAL ASSESSMENT, MANNER OF DUTY PAYMENT, ACCOUNT CURRENT, SCRUTINYX X X X Extracts X X X X X X X X Extracts X X X X ..... n which any duty is payable, shall be removed without payment of duty from any place, where they are produced or manufactured, or from a warehouse, unless otherwise provided. 1.3 Omitted 24/2003 (N.T.) 1.3 There is an exception with respect to duty payment on molasses. Where molasses are produced in a khandsari sugar factory, the person who procures such molasses, whether directly from such factory or otherwise, for use in the manufacture of any commodity, whether or not excisable, shall pay the duty leviable on such molasses, in the same manner as if such molasses have been produced by the procurer. 1.4 Notwithstanding anything contained in sub-rule (1) of Rule 4, Commissioner may in exceptional circumstances having regard to the nature of goods and shortage of space at the premises of the manufacturer where the goods are made, permit a manufacturer to store his goods in any other place outside such premises, without payment of duty subject to such conditions as he may specify. 1.5 For the purposes of the said rule 4, excisable goods manufactured in a factory and utilized, as such or after subjecting to any process, for the manufacture of any other commodity, in such factory s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where duty is charged at specific rate. 3. Self Assessment (Rule 6) 3.1 As per rule 6 of the said Rules, a Central Excise assessee is himself (self-assessment) required to determine duty liability at the time of removal of excisable goods and discharge the same. In other words, the assessee should apply correct classification and value (where duty is ad valorem) on the quantities being removed by him and indicate the same in the invoice (except assessee manufacturing cigarettes, in which case the Superintendent or Inspector of Central Excise has to assess the duty payable before removal by the assessee). 3.2 Assessee is also required to check the return (in the prescribed format under form E.R.-1 and form E.R.-2) for the month for production and removal of goods and other relevant particulars including CENVAT credit for a month and submits to the Range Office having jurisdiction over his factory within ten days of the succeeding month. 3.3 The following persons are permitted to file their returns on quarterly basis. Manufacturers (a) availing exemption notification based on value of clearances in a financial year, or (b) Manufacturing processed yarns or unprocessed fabrics fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h together provide necessary guidelines for classification of various products under the schedule. As regards the Interpretative Rules the classification is to be first tested in the light of Rule 1. Only when it is not possible to resolve the issue by applying this Rule, recourse is taken to Rules 2,3 & 4 in seriatim. The provision of the individual Rule is as follows: 'Rule I declares that Section & Chapter titles are for ease of reference only For legal purposes, the classification of goods are to be determined according to the terms of the headings and relevant Section or chapter Notes. Assistance from subsequent provisions of the Interpretative Rule are to be sought only if the Section or Chapter notes do not otherwise require. Rule 2(a):-This rule provides for classification of an article referred to heading, even if that article is incomplete or unfinished, or is presented in an unassembled or disassembled form. An important condition to be satisfied for classification in this manner is that in its incomplete or unfinished state, the article has the essential character of the completed of finished article. Some of the important aspects which are relevant in this regard are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b-heading is to be contemplated after the product concerned has been properly classified under its proper four digits Chapter heading. The classification in the sub-heading of a heading is determined mutatis mutandis in accordance with the principles applicable to classification in the four digit headings. 3. Powers of the C.B.E.C. to issue orders of classification of goods. 3.1 Section 37B of the Central Excise Act, 1944 empowers the Central Board of Excise & Customs to issue orders, instructions and directions, for the purpose of uniformity in the classification of goods or with respect to the levy of excise duties on such goods. PART III VALUATION 1 Value under the Central Excise Act, 1944 1.1 Value of the excisable goods has to be necessarily determined when the rate of duty is on ad-valorem basis. Accordingly, under the Central Excise Act, 1944 the following values are relevant for assessment of duty. Transaction value is the most commonly adopted method. (i) Transaction value under Section 4. (ii) Value determined on basis of maximum Retail Sale Price as per Section 4A, if applicable to a given commodity. (iii) Tariff value under Section 3, if applicable. 2. Transa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not to be included in the transaction value. The law recognizes such payment to be part o( the transaction value, that is assessable value for those particular transactions. (1) As per the new Sec.4, transaction value shall include the following receipts/recoveries or charges, incurred or provided for in connection with the manufacturing, marketing, selling of the excisable goods: (a) Advertising or publicity; (b) Marketing and selling organization expenses; (c) Storage; (d) Outward handling; (e) Servicing, warranty; (f) Commission or (g) Any other matter. The above list is not exhaustive and whatever elements which enrich the value of the goods before their marketing and were held by Hon'ble Supreme Court to be includible in "value" under the erstwhile section 4 would continue to form part of section 4 value even under new section 4 definition. (2) Thus if in addition to the amount charged as price from the buyer, the assessee recovers any other amount by reason of sale or in connection with sale, then such amount shall also form part of the transaction value.. Where the assessee includes all their costs incurred in relation to manufacture and marketing while fixing pric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly distinguished from the price actually paid or payable for the goods; (b) the financing arrangement is made in writing; and (c) where required, assessee demonstrates that such goods are actually sold at the price declared as the price actually paid or payable. (iv) Discount of any type or description given on any normal price payable for any transaction will not form part of the transaction value for the goods, e.g. quantity discount for goods purchased or cash discount for the prompt payment etc. will therefore not form part of the transaction value. However, it is important to establish that the discount has actually been passed on to the buyer of the goods. The differential discounts extended as per commercial considerations on different transactions to unrelated buyers if extended is also permissible and different actual prices paid or payable for various transactions are to be accepted. Where the assessee claims that the discount of any description for a transaction is not readily known but would be known only subsequently - as example, year end discount - the assessment for such transaction may be made on a provisional basis. However, the assessee has to disclose the in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xcise Valuation Rules. (Circular No 679/70 /2002-CX 4th December, 2002) The total amount received by a manufacturer will be deemed to be the price-cum-duty and the assessable value should be determined accordingly subject to exclusion of sales tax or other taxes. Similar will be the position when additional considerations are received. (Finance Act, 2003) (vi) Erection, installation and commissioning charges: If the final product is not excisable, the question of including these charges in the assessable value of the product does not arise. As for example, since a Steel Plant, as a whole, is an immovable property and therefore not excisable, no duty would be payable on the cost of erection, installation and commissioning of the steel plant. Similarly, if a machine is cleared from a factory on payment of appropriate duty and later on taken to the premises of the buyer for installation/erection and commissioning into an immovable property, no further duty would be payable. On the other hand if parts/components of a generator are brought to a site and the generator erected/installed and commissioned at the site then, the generator being an excisable commodity, the cost of erection, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... portation and only if the assessee has shown the same separately in the invoice. After 1.3.2003, 'cost of transportation' includes - 1. the actual cost of transportation; and 2. Where freight is averaged, the cost of transportation calculated in accordance with generally accepted principles of costing. Thus, 'cost of transportation' can be excluded even where freight is averaged and also there is no condition that the 'cost of transportation' should be shown separately in the invoice. However exclusion of the cost of transportation from the factory to the place of removal, where the factory is not the place of removal, shall not be permissible. The cost of transportation will include the cost of insurance also during the transportation of the goods. (ii) If the goods are not sold at the factory gate or at the warehouse but they are transferred by the assessee to his depots or consignment agents or any other place for sale, the assessable value in such case for the goods cleared from factory/warehouse shall be the 'normal transaction value' of such goods at the depot, etc. at or about the same time on which the goods as being valued are removed from the factory or warehouse (Rul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst delivery of any excisable goods, no notional interest on such advances will be added to value unless it is evidenced that the advance has influenced the fixation of sale price by way of charging a lesser price from or offering a special discount to the buyer who has made the advance deposit. An Explanation has been added in the rule from 1.3.2003 only to remove any doubts with respect to its scope. Advertisement and publicity charges borne by the dealers/buyers are to be included in the assessable value. Even where the dealings are on principal to principal basis but there is an agreement either written or oral that the buyer will incur certain expenditure for advertising the goods of the assessee, the cost of such advertisement and publicity will be added to the price of the goods to determine the assessable value. In such cases since price would not be sole consideration for sale, the transaction value would be covered by Rule 6 of the Valuation Rules Court judgments delivered on this issue under the earlier Section 4, or the Rules made there under, will not apply w.e.f. 1.7.2000, in view of the definition of "transaction value" However, where the brand name/copyright own ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of Samples: Since the goods are not sold section 4(l) (a) will not apply and recourse will have to be taken to the Valuation. Rules. No specific rule covers such a contingency. Except rule 8 all the other rules cover contingencies where sale is involved in some form or the other. Therefore, the residuary rule 11 will have to be adopted along with the spirit of rule 8. In other words, the assessable value would be 110% of the 'cost of production or manufacture' of the goods. (v)Where goods are sold through related persons, the transaction value is not applicable and the assessable value shall be the value at which the related person sells the goods (Rule 9). If the related person does not sell the goods but uses them in manufacture of other articles, the value shall be 110% of the cost of production. For the purposes of Rule 9, related person means: 1. Relatives; 2. Buyer is a relative and distributor of the assessee or sub- distributor of such distributor or 3. Persons having interest, directly or indirectly, in the business of each other. Similarly, where goods are sold through an inter-connected undertaking, the value at which the goods are sold by such inter connected u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are under the control of the same group or any of the constituents of the same group; or (ii) if the managing director or manger of one such body corporate is there managing director or manager of the other; or (iii) if one such body corporate holds not less than one-third of the equity shares in the other or controls the composition of not less than one-third of the total membership of the board of directors of the other; or (iv) if one or more directors or one such body corporate constitute, or at any time within a period of six months immediately preceding the day when the question arises as to whether such bodies corporate are under the same management constituted, whether independently or together with relatives of such directors of the employees of the first mentioned body corporate one fourth of the directors of the other; or (v) if the same individual or individuals belonging to a group, while holding, whether by themselves or together with their relatives not less than , one fourth of the equity shares in one such body corporate also hold, whether by themselves oar together with their relatives not less than, one-fourth of the equity shares in the other; (vi) if the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... person shall be deemed to be a relative of other if, and only if, - (a) They are members of a Hindu Undivided family; or (b) They are husband and wife; or (c) The one is related to the other in the manner as indicated in the following list. List of Relatives 1. Father 2.Mother (including step- mother) 3. Sons (including step—son 4.Son's wife 5. Daughter (including step-daughter) 6.Father's father 7. Father's mother 8.Mother's mother 9. Mother's father 10.Son's son 11. Son's son's wife 12.Son's daughter 13. Son's daughter's husband 14.Daughter's husband 15. Daughter's son 16.Daughter's son's wife 17. Daughter's daughter 18.Daughter's daughter's husband 19. Brother (including step-brother) 20.Brother's wife 21. Sister (including step-sister) 22.Sister's husband Where goods are sold partly to related persons and partly to independent buyers, there is no specific rule covering such a contingency. Transaction value in respect of sales to unrelated buyers cannot be adopted for sales to related buyers since as per section 4(1) transaction value is to be determined for each removal. For sales to unrelated buyers valuation will be done as per section 4(1)(a) and for sale of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the new valuation Rules of 2000 read with rule 6 read with the above two decisions of the Apex Court. As for example, problems have been reported in the case of record CD (Compact Disc) manufactured on job-work basis. The practice in most cases in the CD industry is that a music or a film company acquires the copyright of some songs or movie on payment of a lump sum amount of royalty to the artiste/producer and sends the master copy of the musical score or movie either in the form of a digital audio tape (DAT) or a cinematograph reel or a CD to a job-worker for making CDs on payment of job charges. The job worker provided in most cases, the inlay cards, jackets and the jewel box (plastic cover to pack the CDs and return the same to the copyright owner. The copyright owner then sells the CDs in the wholesale market through its dealer's distributors or consignment agents. The copyright is perpetual in nature and the copyright owner can give repeat orders to the job worker. Thus even if the cost of obtaining the copyright is known, problems arise in apportioning this cost to the CDs manufactured on job work because it is not possible to ascertain the number of CDs which would get ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid by the job-worker on the royalty amount also. As an illustration, if the ratio of the royalty amount plus studio hire charges, to net sales of a music company is, say, 9.41% and the whole sale price of a recorded CD of the music company is, say, Rs 100/- and the job-charges charged by the job-worker is Rs 25/-, then the value on which duty will have to be paid by the job-worker would be Rs 25 + 9.41% of Rs 100 = Rs 25 + Rs 9.41= Rs 34.41. In case the music company has also supplied to the job worker, free of cost, inlay cards, jackets, jewel box or any other material/input, their cost should also be added to the job-charges. If the job worker has purchased some raw materials (e.g. poly carbonate) or inputs, their value will also be added. For this it will be necessary for the music company to supply to the job- worker the data relating to royalty payment and the wholesale price of each CD, the cost of the inlay cards, jacket, jewel box and other material supplied free of cost. Since net sales value and total royalty payment for the current year will not be available with the music company, duty should be determined on the basis of figures for the previous year. Till the figur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tched software in the value of the computer system (the Head Notes of this judgment brought out in the above citation does not bring out the gist of the judgment correctly as the Head Notes make an assertion which is not found anywhere in the judgment, that the cost of firm software etched into the computer is also not includible in the value of the computer). It may be noted that in para 3 of the judgment, the Apex Court has clarified that the term 'software' used in the judgment refers to tangible software only in the nature of discs, floppies and CD Roms. The Apex Court did not discuss cases where computers were cleared loaded with any software, other than "firm software"' As per Central Excise Law, valuation of goods is to be done in the form in which it is cleared. It, therefore, emerges that for the period prior to 1.7.2000 computer systems will be valued by including the value of the software already etched or burnt or loaded on the hard disc of the system. No distinction should be made between'operating software' or an 'application software' in this regard. If the computer is sold loaded with software, the value of the software will be included in the value of the computer. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me in respect of sales tax operates in these cases somewhat like the CENVAT scheme which does not have the effect of changing the rate of duty payable on the finished product. Therefore, since the s scheme of sales tax does not change the rate of sales tax payable/chargeable on the finished goods, the set-off is not to be taken into account for calculating the amount of sales tax permissible as abatement for arriving at the assessable value u/s.4. In other words only that amount of sales tax will be permissible as deduction under section 4 as is equal to the amount legally permissible under the local sales tax laws to be charged/billed from the customer/buyer. In case some States require the set-off to be adjusted consignment-wise, (on the lines of set-off notifications on the central excise side) the net sales tax (i.e. the amount permissible to be billed) will only be eligible for abatement. 4. Valuation of Petroleum Products 4.1 Omitted 5. Tariff Value 5.1 For certain items the Government may fix a tariff value as per provisions of Section 3(2) of the Central Excise Act, 1944. In such cases the assessment of duty shall be on the basis of the tariff value. As on date Tar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s or re-labels the goods, which may result in such goods fall within the purview of Standards of Weights and Measures (Packaged Commodity) Rules. However, in such cases central excise valuation is not important; as such activities undertaken on duty paid goods are fully exempt vide notification No. 38/2003-CE dated 30.04.2003. Thus, it is clear that in such cases, the manufacturer of the garments is under no legal obligations to declare the retail sale price while clearing the garments from his factory in bulk and in unpacked condition. 6. Value on basis of Maximum Retail Sale Price 6.1 The value is based on maximum retail sale price in terms of Section4A of the Central Excise Act, 1944. This is applicable to notified commodities The notification issued in this regard indicates the extent of abatement to be allowed for arriving at the assessable value for determination of amount of duty Where any goods specified under notification issued under Section 4A are excisable goods and the manufacturer- (a) removes such goods from the place of manufacture, without declaring the retail sale price of such goods on the packages or declares a retail sale price which is not the retail sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for sale and, therefore, the cash value of the additional consideration (the cash deposit or deposit of the empty bottle) has to be added to the MRP and the assessable value re-determined for payment of duty. If the cost of reusable containers (glass bottles, crates, etc) is amortised and included in the cost of the product itself, the question of adding any further amount towards this account does not arise, except where audit of accounts reveals that the cost of the reusable container has not been amortised and included in the value of product. Clarification issued vide Serial No.4 of Board's Circular No.643/34/2002-CX dated 1.7.2002 will apply to goods assessed under Section 4A also. Circular No. 69711312003-CX 27th February, 2003 (b) In cases where the MRP on a retail package is scored out, (even if it remains visible) and another MRP printed on the package, it could not be said that the package has two MRPs printed on it, since the scored out MRP could not be considered as an MRP either by the seller or by the consumer. Hence the scored out MRP is to be ignored. Circular No 673164/2002-CX. 28th Oct, 2002 (c) For valuing multi-piece packages consisting of 2 or more consumer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for export, etc. Sec.4A of the Central Excise Act, 1944 is applicable in respect of those cases only where the manufacturer is legally obliged to print the MRP on the packages of the goods, under the provisions of the Standards of Weights and Measures Act, 1976 or the rules made there under or any other law for the time being in force. In respect of telephones falling under heading 85.17 and notified u/s 4A, the manufacturers also make bulk supplies of telephone instruments to the Department of Telecommunication (DOT) and the MTNL, who in turn provide these instruments, on rental basis, to the telephone subscribers. The ownership of the telephone instruments remains with the telephone Department and there is, therefore, no retail sale involved. The manufactures also sell the instruments in the open market on which MRP is printed. The issue, therefore, was how to value the telephone sets which were sold by the manufacturer in bulk to the telephone department the matter was referred to the Ministry of Law, who have opined that valuation of telephone instruments supplied in bulk to telephone department will be done as per sec.4 of the C.E. Act, 1944 and the instruments Sold in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... saction value (from 1.7.2000), u/s.4 of the C.E. Act, 1944. The Standards of Weights & Measures Act, 1976, and the rules made there under, are administered by the State Governments. Instances of dispute could arise between the department and the assessee as to whether, in respect of a particular commodity/transaction, the assessee is exempted from declaring the retail price or not. In case of such doubt a clarification may be obtained from the concerned Department (generally the Metrology Department) of the State Government. if an assessee does not declare or print the retail sale price in respect of a notified commodity, which it is statutorily required to do under the provisions of the Weights & Measures Act, or any other law for the time being in force, the goods, on removal, will be liable to confiscation u/s. 4A(4) of the C.E. Act, 1944. Circular No. 625 /16 /2002 — CX dated 28th February, 2002 PART IV PROVISIONAL ASSESSMENT 1. Introduction 1.1 Provisional assessment is resorted to in the event the duty can not be determined at the point of clearance of the goods. 2. Guidelines and procedure for provisional assessment: 2.1 Wherever an assessee finds that final assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o……. dated…….. ". There is a declaration in E.R.-1,/E.R.-2/E.R.-3 wherein the assessee has to mention that the goods under 'provisional assessment'. 2.5 Notwithstanding 'self-assessment', all cases of provisional assessment have to be finalised by the Deputy/Assistant Commissioner of Central Excise, within a maximum period of 6 months. All the cases where provisional assessment cannot be finalised within 6 months must be submitted to Commissioner with the request letter of the assessee (through Deputy/Assistant Commissioner of Central Excise) indicating the reasons for non-finalisation and amount of differential duty for future clearances, before the expiry of the above- said period. If the Commissioner is satisfied with the reasons, he may extend the period, or otherwise direct the method to be adopted for finalisation of the assessment. For extending the period beyond one year from the date of provisional assessment, the request letter of the assessee should be put up to the Chief Commissioner in the same manner through Commissioner with his comments. The time limit of finalising the provisional assessment shall be 4 applicable even to cases ordered for provisional assessment pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). 3. Initiation of Provisional Assessment by Department 3.1 Rule 7 of the said Rules does not provide for the Department, suo moto, issuing directions for resorting to provisional assessment. Therefore, when the Central Excise Officers, during scrutiny or otherwise, find that self- assessment is not in order the assessee may be asked for all necessary document, records or other information for issue of duty demand for differential duty, if any, after conducting inquiry. Where the assessee fails to provide the records or information and Department is unable to issue demand, 'Best Judgment' method may be used to raise demand based on collateral evidences. The burden will be on the assessee to provide information for appropriate re-determination of duty, if any. 4. Application of new provisions 4.1 The provisions of Provisional Assessment relating to interest clause and statutory time limit are prospective. In other words, these provisions shall be applicable only to those cases of provisional assessment, which are ordered on or after 1st July, 2001. 5. Use of Provisional Assessment Monitoring Systems (PAMS) Software 5.1 A software has been developed for monitoring of Provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid within a period of one month from the due date, the consequences and the penalties as provided in Rule 8 shall follow. After the completion of one month, the amount of duty outstanding and the interest payable thereon will be treated as 'recoverable arrears of revenue' and all permissible action under the law including the action under Sec.11 of the Central Excise Act, 1944 and under Sec.142 of the Customs Act, 1962 shall be taken. On the issue of availment of credit by the user-manufacturer, action against the consignee to reverse /recover the CENVAT credit availed of in such cases need not be resorted to as long as the bonafide nature of the consignee's transactions is not in dispute. In order to ensure proper monitoring of such recoveries and taking up time bound action against the defaulters, Range Supdts. should be asked to maintain a separate register and identify and record the cases of default, immediately on receipt of E.R.-1/E.R.-2/E.R.-3 returns. The Divisional Deputy/Assistant Commissioner should check the registers regularly minimum once in two months period. (Circular NO. 766/82/2003-CX. Dated 15.12.2003) 1.2 National Calamity Contingent Duty (NCCD) on Crude ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Registration number No. should also be indicated in the challans. A copy of each Treasury Challan bearing Treasury/Bank seal and the signature of the authorised officer of the Treasury/Bank which is received back from the Treasury/Bank in token of having made the deposit, should be sent by the assessee to the Central Excise Office along with the monthly periodical return in form E.R.1/E.R.2/E.R.3 3.3 There is an 'Explanation' to sub-rule (1) of rule 8 that the duty liability shall be deemed to have been discharged only if the amount payable is credited to the account of the Central Government by the specified date. It is being interpreted that it refers to deposit of duty amount by the focal point banks into the account of Government. This is not the intention. Once the assessee has deposited a cheque in the bank designated by the Central Board of Excise and Customs, the date of presentation of the cheque shall be deemed to I be the date on which the duty has been paid subject to realisation of the cheque. 3.4 No restriction exists with regard to any minimum amount, which should necessarily remain in balance to the credit of an assessee in his PLA. With the monthly payment syst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtial relaxation of the provisions contained in the "Manual for collection of Revenue and payment of refunds etc.(hereinafter referred to as 'Manual')" only for the duration of the strike or the sudden closures: - 6.4 The Commissioners should issue a Trade Notice stating that during the days of the closure of bank business due to such strikes (specifying the dates wherever possible), the assessees can send their cheques by registered post, acknowledgement due (R.P.A.D.) or special messenger, with the TR-6 challans (in quadruplicate) duly filled in, to the Chief Accounts Officers of the Commissionerates, with a clear declaration that they have sufficient balance in their bank account. (i) They should be advised to send a copy of the letter forwarding the cheque, to the concerned Range Officer also. (ii) On the strength of a cheque so sent, they may take credit in the account current. (iii) On receipt of the cheque in his office, the Chief Accounts Officer will immediately intimate the concerned Range Officer about the name of the assessee, the number and date of the cheque and its amount. (iv) Immediately after the strike is over, all such cheques should be deposited by the Ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atutory records have been dispensed with, the assessee is require to maintain private records containing all requisite information as required by different rules and also provide a list of all records maintained by him to the Range Office. The Officer responsible for scrutiny of return may require the invoices issued by the assessee, Daily Stock Account, Cenvat Account, cash ledgers, Ledger of all receipts and payments and the source documents etc. it shall be compulsory for the assessee to provide the necessary records upon receiving the "Requisition Letter' from the Range Officer or other superior officers. He shall hand over the records under proper acknowledgement and receive them back under proper acknowledgement too. The Officer scrutinizing return may require presence of the assessee or his authorised person at mutually convenient time, for seeking certain information relating to the records. 2.2 The Superintendent of Central Excise in-charge of the Range Office, with assistance of the Inspectors in-charge of the factory of an assessee, will scrutinise all the returns. They shall, in selected cases, call all connecting documents including invoices and the records and scruti ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
