Optional scheme

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....e authorities having jurisdiction by the 28th day of February of the previous financial year: Provided that for the financial year 2016-17, such written declaration may be given to the Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be, having jurisdiction, by the 31st day of July, 2016: Provided further that for the period beginning from 1st March, 2016 to 31st March, 2016 such declaration may be given by the 31st day of July, 2016: (2) An option given under sub-rule (1) shall be valid for whole of the financial year for which it is given by the manufacturer or the principal manufacturer, as case may be. (3) For availing the optional scheme under sub-rule (1) a manufacturer or principal manufact....

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....ved from the job worker's premises or manufactured, during the month. The following illustrates the above rules (all figures in kg): Illustration 1. - A manufacturer or a principal manufacturer: has an opening stock as on 1st April manufactured stock traded stock silver studded articles 60 20 gold or platinum articles studded with diamonds 30 20 other gold or platinum articles 20 20   sells during the month of April total sales silver studded articles 50 gold or platinum articles studded with diamonds 20 other gold or platinum articles 10   receives during the month of April manufactured stock traded stock silver studded articles 60 10 gol....

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.... April manufactured stock traded stock silver studded articles 60 20 gold or platinum articles studded with diamonds 30 20 other gold or platinum articles 20 20   sells during the month of April total sales silver studded articles 70 gold or platinum articles studded with diamonds 40 other gold or platinum articles 30   receives during the month of April manufactured stock traded stock silver studded articles 60 10 gold or platinum articles studded with diamonds 30 30 other gold or platinum articles 20 40 As the sales during the month for the three types of articles are more than the opening stocks of respective articles, the firs....

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....num articles 20 20   sells during the month of April total sales silver studded articles 70 gold or platinum articles studded with diamonds 60 other gold or platinum articles 30   receives during the month of April manufactured stock traded stock silver studded articles 60 10 gold or platinum articles studded with diamonds 30 30 other gold or platinum articles 20 40   In this case, the sales during the month for the three types of articles are more than the opening stocks of respective manufactured articles. Further, the sales of in respect of 'gold or platinum articles studded with diamonds' are even higher than the sum total of opening stocks of m....