Annual installed capacity statement ER-7: strengthened mandatory reporting and expanded disclosure to enhance tax compliance. The Central Government mandated an annual installed capacity statement, ER-7, to be filed by every assessee for each financial year by the prescribed deadline and expanded small scale exemption declarations to include PAN, VAT registration and electricity connection details. It also amended criteria to require ER-4, ER-5 and ER-6 filings for assessees whose aggregate duty outgo exceeds the notified threshold, with ER-4 providing annual financial details and ER-5/ER-6 reporting principal inputs and their monthly consumption. The notifications authorize collection of information from third parties or manufacturers to detect tax evasion and promote voluntary compliance.
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Annual installed capacity statement ER-7: strengthened mandatory reporting and expanded disclosure to enhance tax compliance.
The Central Government mandated an annual installed capacity statement, ER-7, to be filed by every assessee for each financial year by the prescribed deadline and expanded small scale exemption declarations to include PAN, VAT registration and electricity connection details. It also amended criteria to require ER-4, ER-5 and ER-6 filings for assessees whose aggregate duty outgo exceeds the notified threshold, with ER-4 providing annual financial details and ER-5/ER-6 reporting principal inputs and their monthly consumption. The notifications authorize collection of information from third parties or manufacturers to detect tax evasion and promote voluntary compliance.
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