27 October 2012
As per Rule 10 of central excise rules ,
(1) Every assessee shall maintain proper records, on a daily basis, in a legible manner indicating the particulars regarding description 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 such records shall be preserved for a period of five years immediately after the financial year to which such records pertain.
Request you kindly provide the clarity on following questions,
1.Whether printout of RG 1 needs to be taken daily basis?
2. Whether first page and last of the month or book needs to be ensured?
Kindly provide the clarifications to the same with rule/notification reference.
28 October 2012
You can maintained all the procedural work manually or computerized also. you can maintain the RG-1 with computer and take printout on daily basis and it should be sign by the authorise signatory.
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