Excise Invoice software

[Guest]

Dear Expert,

We have excise pilat software this we use for preparing excise invoice ,RG1, Raw material stock ledger. At the audit time can we show records from software to excise dept? Please guide.

Regards

Manoj Raut

[YAGAY andSUN]

Dear Manoj,

You may intimate to the Central Excise Department in this regard under Rule 22 (3) of the Central Excise Rules, 2002.  There is no harm in it.  But at the time of Audit conducted by the Department you must have hard copies of the all statutory records, duly numbered as prescribed in C.E.Act,1944 read with Rules made thereunder.

Regards,

Team YAGAY & SUN

(Indirect Tax Consultants)

[PAWAN KUMAR]

Dear Manoj ji,

If the records obtained from software cover all the necessary informations as per the excise law, you may definitely show them to audit party for conducting the audit. Please also keep the authenticated copy of subject records for future.

[Mahir S]

The audit officer has to check/verify/reconcile and match the various statutory documents. Hence, generally the auditors prefer hard copies for purpose of audit.

It is also mandatory to preserve the excise records for last five years period, which generally are kept and stored in hard copies.

AI Summary

Excise invoice software: electronic records can be produced after intimation, but retain numbered hard copies for audit. Electronic records from excise invoice software may be shown to auditors after intimation under the applicable rule, but taxpayers must retain contemporaneous hard copies of all statutory records, duly numbered as required by excise law. Auditors generally prefer hard copies for verification and reconciliation; authenticated copies of software records should be kept and preserved for the statutory retention period for audit and future reference.