TaxTMI 
TaxTMI 
What is importance of daily production report under excise law?. is it mandatory? and is there any reference to rule,act,circular/notification?.
Daily production report under preview of excise law.
24 Feb 2017 
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Daily Stock Account mandatory under excise rules; production slips not required, maintain daily records and preserve them.
Rule 10 mandates maintenance of a Daily Stock Account with daily entries of goods produced, opening balance, quantities produced and removed, assessable value, duty payable and duty paid; first and last pages must be authenticated and records preserved for five years. Electronic preservation with digital signature is permitted under conditions specified by the Board. Production slips are not separately required; production reports can be derived from the DSA and statutory returns as documentary evidence. (AI Summary)
Rule 10 mandates maintenance of a Daily Stock Account with daily entries of goods produced, opening balance, quantities produced and removed, assessable value, duty payable and duty paid; first and last pages must be authenticated and records preserved for five years. Electronic preservation with digital signature is permitted under conditions specified by the Board. Production slips are not separately required; production reports can be derived from the DSA and statutory returns as documentary evidence. (AI Summary)