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TMI BlogDaily production report under preview of excise law.X X X X Extracts X X X X X X X X Extracts X X X X ..... What is importance of daily production report under excise law?. is it mandatory? and is there any reference to rule,act,circular/notification?. - Reply By KASTURI SETHI - The Reply = Yes. It is mandatory under Rule 10 of Central Excise Rules, 2002. - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Kasturi Sir. Thanks. - Reply By YAGAY AND SUN - The Reply = Rule ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10 only says recording in DSA. It never say about Daily Production Slips. There was mention about the Production Slips in old Rules but now there is no relevance of DPSs. Rule 10 is reproduced here for your ready reference:- 10. Daily stock account.- (1) Every assessee shall maintain proper records, on a daily basis, in a legible manner indicating the particulars regarding descripti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the goods produced or manufactured, opening balance, quantity produced or manufactured, inventory of goods, quantity removed, assessable value, the amount of duty payable and particulars regarding amount of duty actually paid. (2) The first page and the last page of each such account book shall be duly authenticated by the producer or the manufacturer or his authorised agent. (3) All s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch records shall be preserved for a period of five years immediately after the financial year to which such records pertain. 1 [(4) The records under this rule may be preserved in electronic form and every page of the record so preserved shall be authenticated by means of a digital signature. (5) The Board may, by notification, specify the conditions, safeguards and procedure to be followe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by an assessee preserving digitally signed records.] - Reply By KASTURI SETHI - The Reply = Dear Querist,. PL. Note the first line of Rule 10 ,. --------shall maintain proper records on a daily basis ------------. . It will solve your problem. - Reply By Ganeshan Kalyani - The Reply = I agree with Sri Kasturi Sir. - Reply By YAGAY AND SUN - The Reply = It is DSA i.e. Daily Stock Accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t but not the Production Slips. Gone are those days, when Production Slips were used to be prepared. - Reply By Ganeshan Kalyani - The Reply = The Querist did not mentioned about production slip in his query. In fact he is seeking clarification as regard production report. The production report is possible to derive only when proper accounts is maintained as clearly emphasised by an expert Sri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kasturi Sir. Thanks. - Reply By MUKUND THAKKAR - The Reply = What is importance of daily production report under excise law. let me explain on what basis you will enter your production details in daily stock account (RG-1) ? monthly return. ER-1 . you need Documentary evidence. your RG-1 is documentary evidence and your daily production report is sub evidence of RG-1. I one again 100% ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ree with Sh. kasturi Sethji .. he was spend his more than 35 years in Excise dept.. - Reply By YAGAY AND SUN - The Reply = There is relevance of maintaining Daily Production Report as there is no mention in any Rule,Circular and in Notification about this. However, on yearly basis there is a requirement to furnish a list of Private Records maintained by the assessee. Rule 10 says the DSA must ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be maintained on daily basis. - Reply By Arunachalam siva - The Reply = Dear all experts Thank you very much for valuable reply. Now i got the conclusion that there is no requirement of daily production report/slip as per excise law. The DSA is mandatory under 10 of CER 2002. Thanks and regards Arunachalam - Reply By MUKUND THAKKAR - The Reply = it is Human tendency always sea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rching short cut.. any way you choose what ever you want to heard. all the best for future litigation.. - Daily production report under preview of excise law. - Query Started By: - Arunachalam siva Dated:- 24-2-2017 Central Excise - Got 11 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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