Help to maintain RG-23D

[Asish Kumar Nath]

Dear Sir,

As per the excise rules RG-23D is mendatory to maintain. I am going to handle the RG-23D first time. I want to know--------

1.Shall we make a entry at the time of Sales only. I mean just after the generation of sales invoice shall we entered the received part for the quantity we sold and then issue part for the same quantity?

2. Generally we pass the CENVAT to our customer. Now my question is if we don't pass the CENVAT to our customer , shall we enter the transaction also to RG-23D?

3. When we passout the CENVAT we prepare separate invoice for Excise along with our commercial invoice otherwise we only generate commercial invoice. Is it the correct process? If correct shall we put the commercial invoice no. only to RG-23D?

Please it's very  very important to me. If any body help me out in this regard , I shall be greatfull to him.

 

Asish Kumar Nath.

[RAJAT GOYAL]

Ashish,

 one thing is necessary for understanding the concept...u are liable to pay excise when the goods are cleared from ur factory or first stage/second stage dealing depot. So,

1. u have to make excise invoice at the time of clearing of goods.. and make entry for full amount at time of receipt of excise invoice. and if u sale part of the quantity then only pass excise propotionately.

2. if u are a first stage dealer and  u hav paid duty on the product, then it is essential when passing such goods, u hav  to enter the transaction in RG 23D.

 3. yes it is correct process. no u wont need to put commercial invoice in ur RG 23D.

Rajat Goyal

 

[Asish Kumar Nath]

Goyal sir,

 

Thanks for your help. Now I need more explaination in this matter.

Actully we are trader, we import the material and sale out the same in India.

1.When we import the material is it necesary to entry in RG23D?

2.Maximum time we import a bulk quantities of different material in single shipment. In this case when we prepare excise invoice maximum time we pasthe CENAVAT partially. So, Shall we enter in RG23D whenever we raise excise invoice along with details of bill of entry.

Suppose we Import  Item 1---10 kg, 2---10 kg. ,3---10 kg  through bill of entry no.123456. At this point  there is no entry pass in RG 23D. Now we make invoice  no. 1 for only item no.2---- for 5 kg and item no. 3--- for 2kg. then invoive no. 2 for item no. 1--- for 5 kg and invoive no. 3--5 kg.In this what should I entry in register.

[RAJAT GOYAL]

1. If u are a dealer and pay import duty, it is necessary to enter in RG 23D, if u want to pass the duty to your customer... if ur customer dont ask for excise invoice, then u wont need to enter it in register...

2. i havnt audit any first stage dealer accounts... but as per my understanding .. there must be a column of invoice no. in the credit (credit pass) side in which u have to mention the invoice against which u r tranferring credit... and whwenever u match the RG 23D this is the equation u must have to follow..

 

Total duty paid (credit availed/credit that has to be passed) = Credit passed+ credit yet to be passed+ credit foregone for loss of material(normal loss/abnormal loss/ other )(this can not be passed)

[BABU.K rao]

Mr. Asish Kumar Nath,

All duty paid goods have to be enter at the time of receipt and issue, even if you not passing the cenvat you have to mention qty of it in RG23D registered, RG23D register is like stock register of duty paid goods.

AI Summary

RG-23D register entries required at goods receipt and issue; record duty-paid stock and CENVAT pass-through status. RG-23D is mandatory for recording receipt and issue of duty-paid goods, with entries at receipt and at clearance; an excise invoice must be issued at clearance. If CENVAT credit is passed to customers the transfers must be recorded in RG-23D with invoice reference, but even where credit is not passed quantities of duty-paid goods should be recorded. Imported duty-paid goods should be entered on receipt if the dealer intends to pass credit. The register should allow reconciliation so total duty paid equals credit passed plus credit yet to be passed plus credit foregone for losses.