Record-keeping obligations expanded: private and electronic excise records accepted, audit documentation and five-year retention mandated. Amendments revise Central Excise Rules to require maintenance of detailed daily stock accounts and recognise private and computer-generated records as acceptable source documents, impose documentation, disclosure and system-reporting obligations for assessees and manufacturers (including Central Excise Stamp accounts and monthly returns), extend short furnishing time-limits to ten days, mandate five-year preservation of records, require authenticated electronic production for audits, and insert Form RG-23D for receipts and issues of duty-paid goods.
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Record-keeping obligations expanded: private and electronic excise records accepted, audit documentation and five-year retention mandated.
Amendments revise Central Excise Rules to require maintenance of detailed daily stock accounts and recognise private and computer-generated records as acceptable source documents, impose documentation, disclosure and system-reporting obligations for assessees and manufacturers (including Central Excise Stamp accounts and monthly returns), extend short furnishing time-limits to ten days, mandate five-year preservation of records, require authenticated electronic production for audits, and insert Form RG-23D for receipts and issues of duty-paid goods.
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