Optional scheme for excise duty: treat first monthly sales as manufactured articles when conditions and records are met. Manufacturers may elect an optional scheme treating first monthly sales as sales of manufactured articles for excise payment if such sales do not exceed ... Summary
Optional scheme for excise duty: treat first monthly sales as manufactured articles when conditions and records are met.
Manufacturers may elect an optional scheme treating first monthly sales as sales of manufactured articles for excise payment if such sales do not exceed opening manufactured stock and a written declaration is filed; the option lasts the financial year and mandates separate stock and purchase value records for three product categories, specified allocation rules for sales in relation to opening and received stocks, export inclusion as manufactured sales, and non taxable inter branch transfers when stocks are appropriately adjusted.
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