Useful for CA CS CMA ICWA November/ December 2015 exams

1. Central Excise Procedures
• Ajay Babu Bandi
 Practising Chartered Accountant
 M.Com, FCMA,ACA,IFRS(Certified)

3. Registration
 Every Manufacturer of excisable goods is
required to get his premises registered
under the Central Excise Law
 Registration is also required for every
prescribed person who carries on trade
or holds private store-room or
warehouse or otherwise uses excisable
goods

4. Registration- -exception
 A manufacturer is exempt from registration if the
goods manufactured by him attract NIL rate of
duty
 Or if the goods are exempt from the whole of the
duty
 SSI (availing benefit of SSI exemption
notification)
 But submit a declaration if the value of
clearances exceed ` 90 lakhs

5. Registration-Number
 The Assessee / Manufacturer is issued
a 15 digit PAN based alpha numeric
Registration Number and a Registration
Certificate
 No renewal required

6. Payment of excise duty

7.  Duty may be paid in cash through the
Account Current, popularly known as
PLA(Personal Ledger Account)
 Duty can also be paid by utilizing CENVAT
credit balance available at the end of the
month

8.  Assessee who have paid Excise Duty
more than or equal to ` 10 lakhs (including
amount paid and CENVAT credit) are
mandatorily required to pay the duty
Electronically through internet banking

9.  Failure to pay the amount of duty within the
due date attracts interest at 18% per
annum on the outstanding amount

10.  Invoice - An invoice is the document
under the cover of which the excisable
goods are to be cleared by the
manufacturer

11.  Numbering - Invoice should be serially
numbered
 It shall commence from 1st April every year

12.  Contents - Registration number, Address
of the excise division, Name of the
consignee, Description, Classification,
Time and Date of Removal, Rate of Duty
,Quantity, Mode of Transport , Vehicle
Registration number and Value of Goods
and the Duty payable thereon

13. Number of Copies
 Original for BUYER
 DUPLICATE for Transporter
 TRIPLICATE for Assessee

14. Return Filing Procedures