Excise Articles

Easy Understanding of Rule 6 of CCR

CA PRAMOD SARAOGI 01 October 2011 at 17:50

EASY UNDERSTANDING OF RULE 6 OF CENVAT CREDIT RULES 2004 FOR CA FINAL STUDENTS NOVEMBER 2011 Hi students you must be aware that a number of changes have been brought about in CENVAT Credit Rules, 2004 and more partic

Inventories defined and Rule 3 (5B) of CCR

Manoj Pala 05 August 2011 at 14:39

INVENTORIES defined and read in terms of Rule 3 (5B) of CCR; Inventories are assets (current assets) which encompass a) RAW MATERIALS held for use in the production process or in rendering of services b) Stores, maintenance suppli

Inventory write downs vis-a-vis Rule 3 (5b) of CCR

Manoj Pala 03 August 2011 at 12:18

Inventories are measured at the lower of cost or net realizable value (NRV). If the NRV falls below the recognized costs pf an inventory item, the respective inventory items must be measured. Inventory write-downs should reflect the estimated loss i

Rule 3 (5b) of Cenvat Credit Rules ... Post Budget 2011

Manoj Pala 28 July 2011 at 12:46

Notwithstanding the technicality of the law viz: the point of discussion Provision for write of inventory, we opine that in the subject matter the spirit of the law in principle might prevails over the technicality of the law and which

Excise Audit - Points to be noted

Member (Account Deleted) 29 June 2011 at 14:15

Simple single dozen steps before starting the Excise audit: 1. Understand the client Business with system support on business transaction 2. Some ERP may not support all the requirements of Excise data i.e. Oracle 11i may not support the

Credit of Service Tax Pain in Case of Goods Transport Agency

praveen 25 May 2011 at 11:32

CREDIT OF SERVICE TAX PAID IN CASE OF GOODS TRANSPORT AGENCY It is a well known fact that Goods Transport Ag

Every Assessee is Prone to Default in Filing ER-5 And ER-6

P.Bashista 20 May 2011 at 12:28

As per Rule 12(1) of the Central Excise Rules an assessee who is registered with the Central Excise department is mandate to file the ER-1 periodically. Though, every registered assessee is not mandate to file ER-5 and ER-6. ER-5 and ER-6 is to be f

Central Excise Made Simple

Madhukar N Hiregange 14 April 2011 at 13:01

Manufacture also constitutes a major part of the economic activity of our country. The Central Government had also realised that unless this sector is nurtured, there would be no inclusive growth. The vast unemployed population of the country mainly

Sec. 11A - Branches opened for invoking extended time limit

Pradeep Jain 07 March 2011 at 11:10

Section 11A-Branches opened for invocation of extended time limit Prepared By: CA Pradeep Jain, CA Preeti Parihar and CA Rajani Thanvi INTRODUCTION:- The section 11A of the Central Excise Act, 1944 plays a vital role in collection of

1% Levy- How to Comply?

Madhukar N Hiregange 05 March 2011 at 12:27

New Products under Central Excise Levy 1.3.2011 Madhukar N Hiregange FCA The Finance Minister as a move towards GST to be implemented by 2012 took a step in removing the exemption regime by levying duty on 130 items out of 370 where VAT is