Final assessment - excise

[Guest]

How to make Final assessment in excise? what are all the documents i should enclose with the final assessment papers to submit the excise department?

[Mukesh Kumar]

There is no formal system of assessment in central excise like in income tax. However, department may seek details and information relating to your returns and activities. If there is any demand, a show cause notice is being issued. Therefore, you need to supply all the details and papers as and when sought by the department from time to time or the audit team as the case may be.

AI Summary

Final assessment in central excise: no formal assessment; supply documents and respond to information requests and show cause notices. Final assessment in central excise lacks a formal assessment scheme; the department proceeds by seeking information, conducting audits and, if a demand is contemplated, issuing a show cause notice. Taxpayers must retain and furnish supporting documents and respond to departmental or audit requests and to any show cause notice to address alleged liabilities.