Financial Daily from THE HINDU group of publications
Friday, Sep 20, 2002

Port Info

Group Sites

Industry & Economy - Excise and Customs
Government - Taxation

Govt offers relief to excise duty payers

Our Bureau

NEW DELHI, Sept. 19

FROM October 1 this year, the Government will bring into force a new system of issuing registration certificates to central excise duty payers on the spot.

The registration certificate will bear a 15-digit PAN-based registration number. This number will be a common identifier for different government departments.

An official release issued by the Central Board of Customs and Excise (CBEC) said that the grant of the registration certificate immediately on receipt of the application would provide significant relief to central excise taxpayers.

Registration under central excise is a necessary pre-condition for manufacturers, warehouses and dealers of excisable goods who pass on Cenvat credit to manufacturers.

The new procedure envisages the use of a systems-compatible application form and the grant of registration at the central excise divisional offices by accessing a central server.

The CBEC has also dispensed with the concept of "deemed registration" in respect of export-oriented units and units in export processing zones procuring duty-free goods from the domestic market or selling goods in the domestic tariff area.

EOUs and units in EPZs, which are administratively under customs officers, would be granted registration by these officers only. However, other such units that are exclusively engaged in exports and do not have transactions with the domestic economy will continue to be treated as "deemed registered under central excise."

The new procedure will ensure availability of error-free data for various interconnected processes and help reduce the department's response time to queries from taxpayers. It will also help build a national database and provide inputs for policy formulation, according to the release.

Send this article to Friends by E-Mail

Stories in this Section
Grass looks greener in land of kiwis

Loan for Lions Cllub
`Chem complexes to go on stream soon'
Stay order saves cows, for now
Bengal cuts bonus payments by 50 pc
Suicide rate on the rise
Govt offers relief to excise duty payers
Golden Quadrilateral Phase-I to be completed next year
Mahindra City launch soon
Almatti power project contract — TAC clarification puts more pressure on pvt insurers
`Centre keen on starting Dabhol Phase I'
Service tax in force
`Kochi can be major convention city'
AP Govt urged to expedite Krishna water project
Madurai farmers face water crunch
Credit policy on Oct 29
New syllabus for IIT entrance exam next year
More facilities at AIDS centre in Chennai hospital
Wage rates for hospital staff fixed
ITPO in pact with Madurai industry body
`IPO preferable over strategic sale of Nalco'
Karnataka sets up new Disinvestment Dept
`Counter-NTBs a must for trade survival'
`Respect to IPR crucial for pharma pacts with Germany'
Indiatech fair to be held in Melbourne
Conference to focus on impact of climate change
Hyderabad Engagements
DFGT promises bigger role for States in exports
Chamber protests DGFT office relocation
Drought situation in AP grim, says Naidu
55 cos registered this year

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line