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22 July 2009 what is rg123 and rg1

Arbind Aggarwal

Arbind Aggarwal (Expert)
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24 July 2009 RG23 PART 1 WAS QUANTITATIVE RECORD FOR INPUTS AND CAPITAL GOODS(SEPERATELY) ON WHICH CENVAT CREDIT IS TAKEN AND

RG23 PART II IS RECORD FOR THE CENVAT CREDIT ON THOSE INPUTS.

RG1 WAS A FORMAT FOR ACCOUTING FOR THE FINISHED GOODS STOCK AND DUTY PAYABLE ON THEM.

NOW ALL THESE REGISTERS ARE NOT REQUIRED TO BE MAINTAINED AND PRIVATE RECORDS MAY BE KEPT FOR THIS PURPOSE.

RG1 HAS BEEN RENAMED AS DAILY STOCK ACCOUNT OF FINISHED GOODS.