Excise Duty : The provisions of Central Excise Act 1944 with respect to medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic (AYUS...
Excise Duty : Electronic payment of duty has been made mandatory for assessees whose total duty payment including utilization of CENVAT credit f...
Excise Duty : Manufacturers who have paid Central Excise duty of Rs. 10 Lakh or more (including payment by utilisation of Cenvat credit) in the ...
Excise Duty : In rule 12, after sub-rule (2), after clause (a), the following proviso shall be inserted, namely:-Provided that where an assessee...
Excise Duty : Electronic payment of duty has been made mandatory for assessees whose total duty payment including utilization of CENVAT credit f...
The provisions of Central Excise Act 1944 with respect to medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic (AYUSH) System has been discussed as under
Manufacturers who have paid Central Excise duty of Rs. 10 Lakh or more (including payment by utilisation of Cenvat credit) in the previous financial year shall file their Annual Financial Information Statement (ER4) as prescribed under the proviso to clause (a) of sub rule (2) of Rule 12 of the Central Excise Rules, 2002,electronically.
In rule 12, after sub-rule (2), after clause (a), the following proviso shall be inserted, namely:-Provided that where an assessee has paid total duty of rupees ten lakh or more including the amount of duty paid by utilization of CENVAT credit in the preceding financial year, he shall file the said Annual Financial Information Statement electronically:
Electronic payment of duty has been made mandatory for assessees whose total duty payment including utilization of CENVAT credit for the preceding financial year is Rs. 10 lakh or more as against the existing threshold of Rs. 50 lakh or more without considering the payment by utilizing CENVAT credit.
