Sreejith S (Manager-Finance) (95 Points)
08 July 2011Hi All
Could you pleae clarify the following
1. What is the chellan to be used to remit central excise duty and from where can I download it?
2. What is the due date of paying central excise duty?
3. Whether the due date need to be calculated from the date of Invoice or from the date of Receipt?
Thanks
Sreejith
Snehungshu Banerjee
(Accountant )
(76 Points)
Replied 08 July 2011
1. Challan - GAR 7(can be download form CBEC Site)
2.Due Date of Payment of Excise Duty -
For Non SSI - Within 5th of the next month from the current month for Normal Clearing.For E Payment 6th of the next month.
For SSI - Within 15th of the next month from the current month for Normal Clearing.For E Payment 16th of the next month.
3.Due date is calculated on the simply month wise basis.For example - ED of the month of June 2011 is paid with in 5th July 2011(e payment 6th July 2011).
Sreejith S
(Manager-Finance)
(95 Points)
Replied 08 July 2011
Thank You Snehungshu. When the liabilty of tax payment starts? On the date of invoice or on the date of receipt from the customer. Pls clarify this also.
Thanks
Sreejith
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 09 July 2011
Central Excise duty is debited on "clearance" and the same is debited before clearance, at the time of preperation of invoice.
such debit balances must be paid on or before 5th of the next month. ( 31st march in case of march payments)
Snehungshu Banerjee
(Accountant )
(76 Points)
Replied 11 July 2011
Central Excise Duty is attracted by the finish goods when the goods are manufactured.
Manufactured means the process of producing any exciseable goods which are totally distinct from its principal input materials.
But the Central Excise duty is payable at the time of clearance of goods at the place of removal along with EXICISE INVOICE.
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