Jinu Kodasseri (Executive -Commercial) (73 Points)
28 March 2011Hi,
If we have a central Excise registered warehouse what is the procedure of keeeping material in this warehouse?
What is the procedure of sending material (Both FG, SFG & Raw Material) from factory to this warehouse?
What are the records to be maintained in this warehouse. What is the return to be filed?
Regards,
Jinu
Pankaj Arora
(Learner)
(3134 Points)
Replied 28 March 2011
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The stock records must show: |
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· A full descripttion of the goods (including age and date first warehoused for spirits)
· The current location of goods in the warehouse
· The duty status of the goods, and evidence of any duties paid
· The name, address and, if appropriate the VAT registration number of the owner, and if applicable, the duty representative
· Whether the goods have been subject to a supply in warehouse
· A means of identifying all goods to their stock number or vice versa |
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Any operations carried out on the excise goods that results in the production of new goods must be recorded on the original stock account reference, and this must be adjusted. On completion the resulting goods must be entered as a new receipt, together with a new stock number and suitable cross-reference with the old stock number.
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