entry of cevat on other's page in ER-1

[MEHUL ASHAR]

Respected Sir,

                            As regarding above subject, one of my clients is taking the exemption benefit of noti. no.08/2003, as on 31-03-2014 he has to pay duty on stock like raw material & finish goods then as he pays the duty then in other page where we have to show the entry of duty paid on stocks either under the tab of interest or arrears,please inform that under which rule it will come.Please reply.

THANKING U.

[YAGAY andSUN]

We are not able to understand your query?

AI Summary

Duty on stock: whether ER-1 entry should be treated as arrears or interest and which rule applies. A taxpayer who availed an exemption must pay duty on raw materials and finished goods held in stock as of the cut off date; the query asks whether that payment should be shown in ER-1 under arrears or interest and which procedural rule applies, and the sole recorded reply did not address the question.