Validity of CT-3

[Hikal Ltd]

Kindly let me know the validity of CT-3 Certificate issued under C.E. Notification 22/2003 dt.31.03.2003.

[PARTHASARATHY V]

Validity of the CT-3 certificate is 1 year

[Hikal Ltd]

Any circular/notification...?

[SHIVKUMAR SHARMA]

No any where mentioned the validity of CT-3, The CT-3 issue for a specific quantity/ value & in few cases the issuing authority mentioned the Period also for which the CT-3 is valid.

SHIVKUMAR SHARMA

[vishnumurthi holla]

CT 3 is valid for 1 Year Maximum. Because of budgetary changes on Yearly basis.

If Tax Rate is Not Changed, you still use the CT 3, with an intimation to the Jurisdictional Superintend.

If there is any change of rate of duty,It is advised to short close the CT 3, and Issue a fresh CT 3. It is because, CT 3 Has to be matched Qty, Item, and Value. And Bond is debited with the Duty calculated based on the Value on the Issue date. 

AI Summary

Validity of CT-3 certificate: limited-term; notify superintendent for continued use; reissue advised when duty rates change. CT-3 certificates are issued for specific quantity, item and value and are treated in practice as limited-term; continued use may be allowed with intimation to the jurisdictional superintendent if duty rates are unchanged, but if duty rates change it is advisable to short-close the existing CT-3 and issue a fresh one because bond debit and duty calculations are tied to the value and issue-date on the certificate.