OPEN AND TIME BOUND CT-1

[RAM SHARMA]

DEAR EXPERTS,

WE ARE MANUFACTURER AND WANT TO SALE  CT-1. WE HAVE NOT FIXED QUANTY ORDER.CAN WE ISSUE CT-1 WITH PROJECTION BASE QUANTITY OR BLANK QUANTITY FROM THE EXCISE DEPARTMENT. WHAT IS THE LEGAL OBLIGATION TO CANCEL THE BALANCE QUANTITY. PL ADVICE.

THANKS

 

AI Summary

CT-1 Certificate Validity: Use Within 6 Months; Adjustments Required for Unused or Excess Export Quantities A manufacturer inquired about issuing a CT-1 certificate with either projected or unspecified quantities for sales and the legal obligations for canceling unused quantities. An expert advised that if less quantity is exported, the merchant exporter must obtain a certificate from the Central Excise Department to account for the unutilized amount. If more is exported, duty must be paid. The maximum time limit for using the CT-1 quantity is six months, although the certificate's validity can be up to one year, subject to the issuing officer's discretion.