TaxTMI 
TaxTMI 
Passing on of the credit of duty paid yarn by the exempted powerloom units to multiple buyers
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.... th April, 2003, as amended by notification No. 47/2003-CE, dated 17 th May, 2003 are allowed to pass on the credit available on their inputs, i.e. yarns by endorsing the duty paying document, in favour of the buyer (please refer to notification No. 25/2003-CE(NT) dated 25 th March, 2003). However, the facility is available to such weaver only in cases when the input documents are endorsed in full....
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.... 60. The person opting for the scheme shall file an application in the similar simplified format (Annexure-IA to notification No. 35/2001-CE(NT), dated 26 th June, 2001, as amended) as that in case of registration of textile manufacturers. (Please see notification No. 53/2003-CE(NT) dated 9 th June amending notification No. 36/2001-CE(NT) dated 26 th June, 2001. The weavers may take assistance o....
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....l enclose a pre-printed serially numbered challan (in triplicate), in a format prescribed under Notification No. 54/2003-CE(N.T.) dated 9 th June, 2003. The challan would give details of (a) his input/inputs and the related invoice/invoices,(b) particulars of duty paid thereon and (c) the proportionate amount of excise duty paid on inputs i.e. yarn, which is attributable to have been used in the m....
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.... a record for each assessee in the format prescribed below. The purpose of this record is to monitor whether the assessee has passed the correct credit to his buyer and whether the input out put ratio. It shall be the responsibility of the Superintendent of the concerned range to periodically review the records as well as statements file by the weavers and conduct test checks (without visiting the....