Production Storage and Accounting of Finished Goods manufactured

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..... hout payment of duty (with no time constraint). However proper records have to be maintained by the assessee, of the goods manufactured in an account called 'Daily Stock Account' [earlier in RG-1 register]. Storage outside the factory without payment of duty: Goods (and inputs received under cenvat) can be stored in other premises outside the factory, only after taking permission from jurisd .....

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..... can enter fully manufactured goods in daily Stock Account before completion of 1 st shift of the day. 'Fully manufactured goods' is defined to include all activities incidental or ancillary to the completion of a manufactured products. For e.g. packing and testing activities has been considered as part of manufacturing process. Thus goods can be entered in daily stock account only when goods .....

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..... Bottles: defective bottles can be removed from store for making fresh bottles, without payment of duty. But in case duty is paid, credit will be available to the manufacturer. Storage for trading activity: Though there is no prohibition on the manufacturer if wants to undertake trading activity from his factory but it is advisable if he stores the goods in separate premises especially if h .....

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