NEW DELHI. Every assessee is now required to file an Annual Installed Capacity Statement as notified by the Government of India vide Central Excise Non-Tariff Notification No.38 dated 29th September 2008. For the year 2007-08, the said statement is required to be furnished by 31st day of October, 2008
ER-7 Form has been notified for the purpose of declaring the annual production capacity of the factory and the manufacturers are required to giving details of electricity connection and sanctioned load as per Central Excise Non-Tariff Notification No. 39
Though excise duty is required to be paid on actual production and has no relation to electricity consumed; the move is aimed at cornering those excise evaders who run their factory for 24 hours and do not show the desired production and clearance in excise records and thereby evade excise by clearing the goods without payment of excise duty.
Units availing small-scale excise exemption are also required to file revised declaration for the year 2007-08 by 31st October, 2008 in new Form for Declarant Units giving details of electricity loads as notified vide Central Excise Non-Tariff Notification No.40
Further, all Excise Assessees paying duty of above Rs 1 Crore by Cash + CENVAT are now required to file, vide Central Excise Non-Tariff Notification No.41 , Information relating to principal inputs used by them in the prescribed form. Till now such information was required to be given by only those assessees who paid above Rs 1 Crore excise duty by cash.
Assessees paying duty of above Rs 1 Crore by Cash + CENVAT are also required to file Annual Financial Statement as prescribed vide Central Excise Non-Tariff Notification No.42
(Source: Allindiantaxes)
