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Query in excise audit

Vineet Kumar Singh (Accounts Officer in Bihar State Power (Holding) Co Ltd) (264 Points)

22 August 2011

Please give me some ideas to perform an Excise Audit of a construction Co?

What process/procedure shall I follow to perform the same?

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2 Replies

Monuettan (Sr.Executive) (59 Points)
Replied 24 August 2011

Dear Mr.Vineet Kumar,

The main thing in central excise audit will be about duty. If you are availing cenvat credit, ensure that, you are having all cenvat papers /bill by which you have availed cenvat credit. if some thing is missing, try to trace the original document, duplicate for transporter copy is the main document for availing cenvat credit, in some cases they might have misplaced the same, for that case we can show original invoice for availing cenvat credit. If you are availing cenvat credit other than these copies. The excise authorities will demand duty. you have to avail cenvat credit with that two copies only.

2. Ensure that you have taken only 50% cenvat credit for capital goods in the first financial year and the balance in next financial year , you have to maintain RG23C register.

3. For rawmaterials you can avail 100% cenvat credit , you have to maintain RG23A Register.

3. The bills which you have received contains your name and address correctly, and check whether your supplier is registered with central excise and whether they have mentioned their R.C.No in their invoices.

4. For sales invoice, you should have the triplicate /Assessee copy.

5. Ensure that the details provided in your monthly returns is correct as per you cenvat details.

all the details will be reflected in you p&l account,

you have to provide the below detials to central excise officer at audit time.

Excise Return

Cenvat register RG23A, RG23C

Sales register

Export register

Production register

scrap register

raw material register

PLA register,

p & L statement /Trial Balance

VAT return,

Income tax return

and your service tax details for goods transport agency , if you are providing any other service from this they will ask the same .

ensure that all the details are correct , if you found anything worng , please reverse the same and pay duty along with interest.

if you have any clarifications , write to me at monuettan @ gmail.com

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Manish (student) (51 Points)
Replied 06 April 2012

RMC purchase by the contractor, in which the bill contain the excise value, is contractor can availed credit for such excise? or any builder can set of this excise against its servicetax credit?