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top ten excise rules????

Question Posted / piyal_s


top ten excise rules????..

Answer / r.dutta

1. Take CENVAT immediately
2. Take 50% of CENVAT credit for 1st financial year
3. Take next 50% of CENVAT credit next financial year
4. The last date of filling ER-1 is 10th of the every
following month
5. For making CASH payment 5th is the last day for every
following month
6. Pay interest @ 18% if any mistake is there
7. Do't pay any interest if you not used CENVAT credit even
you have made mistake.
8. In case of job work material should be received back
within 180days, not six months
9. Before taking CENVAT verity the ECC NO of the supplier
10. For taking CENVAT credit DUPLICATE FOR TRANSPORTER is
the 1st preference. If such copies are not available then
can take credit against original copies.

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