CHANGES IN UNMANUFACTURED TOBACCO IN BUDGET 2021

This query is : Resolved

Ashwin Joshi (Querist)
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03 February 2021 WE ARE ENGAGED IN MANUFACTURING AND SUPPLYING UNMANUFACTURED BRANDED TOBACCO. FALLING UNDER 24011090 OUR DUTY RATE STRUCTURE AS FOLLOW

SGST 14%
CGST 14%
COMPENSATION CESS WITH LIME PACK - 71 %
AS COMIMG UNDER FOURTH SCHEDULE OF CENTRAL EXCISE ACT 1944. BESIDE WE HAVE TO FILE MONTHLY RETURN ER1 FOR COMPENSATION CESS ON ACES GST PORTAL.
ANY CHANGES IN NEW BUDGET ?
NEEDS FOR FILING ER1 MONTHLY RETURN ON ACES GST PORTAL ?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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06 July 2024 As of my last update, I don't have access to real-time data such as recent budget changes or specific requirements for filing ER1 returns on the ACES GST portal. Here are some general points to consider:

### Recent Budget Changes
- For updates on duty rates, including SGST, CGST, and Compensation Cess, it's essential to refer to the latest Union Budget announcements or notifications issued by the Central Board of Indirect Taxes and Customs (CBIC).

### ER1 Monthly Return for Compensation Cess
- ER1 is a monthly return required to be filed for payment of Compensation Cess under GST for manufacturers of specified goods, including tobacco falling under the Fourth Schedule of the Central Excise Act, 1944.
- The ER1 return typically includes details such as production, clearance (removal of goods), and payment of Compensation Cess.

### Action Steps:
1. **Stay Updated:** Keep abreast of any changes in duty rates or filing requirements through official sources like the CBIC website, GST portals, or notifications from your tax consultant.

2. **Consult with Experts:** Given the specific nature of your business involving unmanufactured branded tobacco and its compliance requirements, it's advisable to consult with a tax expert or a GST practitioner who can provide tailored advice based on current regulations.

3. **Portal Access:** Ensure your access to the ACES GST portal remains active and that you are familiar with the process of filing ER1 returns. Any changes in the filing procedure or deadlines should be promptly addressed to avoid penalties or non-compliance issues.

4. **Budget Implications:** Review the latest Union Budget announcements or Finance Act provisions to understand if there have been any changes in duty rates or other tax implications affecting your business.

For precise and updated information regarding any recent budget changes or specific filing requirements for ER1 returns, please consult with a tax advisor or visit official government portals for the latest notifications and circulars related to GST and Compensation Cess.