Excise Records Maintainence

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Anil (Querist)
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23 November 2010 Hello, i just want to know what are the records that are required to be maintained under the Central Excise, few of them i know like PLA Register for Cash Payment of Duty, CT-3 Registers, PC Registers, Part 1 and Part 11 of Input and Capital Goods Register, RG-3 Register, Daily stock Account, and service tax credit taking register.

I just want to know, are there any other registers or records that a company has to maintain other than the above stated by me.

Prabhakar

Prabhakar (Expert)
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23 November 2010 Apart from the above, Sales and purchase invoices for last five years, job work register, job work challans, Returned goods Register under rule 16 of Central Excise Rules 2002(in case if you avail cenvat on the returned goods)

Anil

Anil (Querist)
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23 November 2010 Thank you very much, Mr. Prabhakar for the valuable invoice. One more question i would like to put and i.e. In case of a common input which is being used in the products manufactured for domestic market as well as export market. For availing the benefit, the law says either you maintain separate books of accounts or pay 8% tentatively on the exempted manufactured goods.
Is there any other way of doing it, because some experts say that this could be done by invoice system...but don't know how?

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Prabhakar

Prabhakar (Expert)
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24 November 2010 Exempted goods are different from Exported goods.

exports: IN THe CASES WHERE YOU CANNOT MAINTAIN SEPARATE RECORDS FOR INPUTS, THE following are the options

1)In case of EXPORT of excisable goods you can avail the credit on raw material and export them on payment of appliacble duty. Later you can claim rebate of the export duty paid. OR
2)export the goods witout payment of duty and claim refund under Rule 5 on the credit attributed on the inputs used for manufacture of exported goods. for this you have to prove the inputs gone into the export goods and duty paid on inputs.

Exempted goods: IN THE CASES WHERE YOU CANNOT MAINTAIN SEPARATE RECORDS FOR INPUTS, THE following are the options
1) pay 8% on the value of the exempted goods cleared i.e, under Rule 6(2) of cenvat Credit Rules, 2004 OR
2) reverse proportionate credit on the inputs attributed in the manufacture of expemted goods. for this you have to excersi an option with the Range Supdt under Rule 6(3) of Cenvat Credit Rules, 2004