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Issue ID : 110947
- 0 -

Procedure to dispose off Excise Invoice after 5 years

Date 22 Sep 2016
Replies6 Answers
Views 903 Views
Asked By

Dear Sir,

Please provide us the procedure to dispose off the Excise records after 5 years.

6 answers
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Old Query - New Comments are closed.

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- 0
Replied on Sep 22, 2016
1.

Sir,

Sub-rule (3) of Rule 10 of Central Excise Rules, 2002 stipulates that " all such records shall be preserved for a period of five years immediately after the financial year to which such records pertain". The term "all such records" means stock account, invoices, copies if periodical returns filed etc.

- 0
Replied on Sep 22, 2016
2.

However, if any litigation is pending then such record needs to be preserved till such matter attains finality. It is a settled legal position.

- 0
Replied on Sep 23, 2016
3.

In my understanding the law provides provided for maintenance of records , but it does not mention about the method of destroying the records after keeping it for prescribed time period. Thanks.

- 0
Replied on Sep 23, 2016
4.

The Act provides statutory time limit as told by Shri Ranaganathan Sir. Disposal of records is at your own convenience.

- 0
Replied on Sep 24, 2016
5.

What are the ways the corporate offices destroy the records that are old.

Paper shredder is a machine which cuts the paper into small pieces.

Burning out the papers.

Etc.

- 0
Replied on Sep 24, 2016
6.

Provision of Company Law read with other allied laws which are for the time being in force must be complied with in such matters.

Old Query - New Comments are closed.

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