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Excise-exempted units need to file quarterly returns
K.R. Srivats
New Delhi, Jan. 22
Industrial units in Uttarakhand and Himachal Pradesh would now be required to file quarterly returns with the excise department giving out production details, value of goods cleared by them and the transactions undertaken with their related units. Currently, full excise duty exemption is available to units located in specified areas of Uttarakhand and Himachal Pradesh.
“We have no database on the number of units in Uttarakhand and Himachal Pradesh that are availing excise exemption and also the extent of duty foregone. The quarterly returns would help us create a database and determine the duty foregone,” a Central Board of Excise and Customs (CBEC) official told Business Line.
Quarterly returns would have to be filed by units for the quarter ended June, September, December and March of a financial year.
Such units would have to file the quarterly return by 20th of the subsequent month of the quarter to which the return relates. However, for the quarter ended December 31, 2007, the units have been allowed to file the return by February 20.
Manufacturers have been given the option to file their returns electronically or by post. The stipulation to file quarterly returns would apply for both existing units availing full excise duty exemptions and also to new industrial units that may be set up in future, the official said.
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