what are the return filled for a month and year

[Mahesh Sharma]

what are the return filled for a month and year

AI Summary

Understanding Monthly and Yearly Filing for Central Excise: ER-1 Return, CENVAT Credit Rules Explained A user inquired about the types of returns that need to be filed monthly and yearly, specifically concerning Central Excise. Respondents clarified that various laws require different filing frequencies, such as the Income Tax Act (yearly) and the Central Excise Act (monthly/quarterly). The user further asked about excise returns and claiming CENVAT for imported plant and machinery. It was explained that the ER-1 return is filed monthly, with a due date of the 5th of each month. CENVAT credit on capital goods can be claimed partially in the first year and the remainder after installation in the next year.