Payment of duty and return filing

[Penumerthy Muralikrishna]

Notification 17/2007 CE dated 01-03-2007 supersession of the notification No.34/2001-CE, dated the 28th June, 2001. My querry in this case is that if anybody is availing the aforesaid notfn. then what is the date of payment of duty and whether the assessee is required to file any monthly ER-1 return.

[Rama Krishana]

Notification 17/2007 CE dated 1-3-2007 deals with the compounded levy of stainless steel pattis/pattas, falling under Chapter 72, or aluminium circles falling under Chapter 76. You can avail the benefit of this notification at any time during the year but for full month. Since under this scheme he is not supposed to keep the records of items manufactured or sold, assessable value etc., he is not required to file any ER-1 return. Instead, he will be required to file monthly statement as per annexure to the notification.

AI Summary

Compounded levy scheme exempts assessees from ER-1 return filing while requiring a monthly annexure statement. The compounded levy scheme covers stainless steel pattis/pattas and aluminium circles and may be availed at any time during the year but only for full months. Assessees under the scheme need not keep records of manufactured or sold items or assessable value and are not required to file the ER-1 monthly return. Instead, they must submit the monthly statement specified in the notification's annexure. The reply does not specify any separate duty payment date apart from the scheme's monthly applicability.