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ABout

ELIGIBILITY

Required documents

ABOUT Excise Return Filing And Advisory Services

Central Excise Duty (CENVAT) is levied on goods manufactured and produced in India under the authority of the Central Excise Act, 1944 at the rates prescribed in the First and Second Schedule to the Central Excise Tariff Act, 1985 as amended by Central Excise Tariff (Amendment) Act, 2004. In addition, education cess @ 2 per cent on excise duty amount is levied by Finance (No. 2) Act, 2004. The effective rates may be lower pursuant to general /specific notifications issued by the government granting whole or partial exemption from duty. The duty, in most cases, is levied on the transactional value of excisable goods at the time of removal from factory.

ELIGIBILITY

Any individual or any sovereign entity undertaking manufacturing activity is eligible for Excise Return Filing Advisory.

Required Documents

The documents needed vary from case to case. Let FINMART understand your needs and assist you in documents requirement.


HELP

HELP

Category of Assessee

Period

Due Date (Manually)

Due Date (E-Payment)

SSI Units

April-June

15 th July

15 th July

July-September

15 th October

15 th October

October-December

15 th January

15 th January

January-March

31 st March

31 st March

Non SSI Units

Monthly till Feb

5 th of following month

6 th of following month

March

31 st March

31 st March

An SSI unit is required to file returns on quarterly basis within 20 days from the date of completion of the quarter, but non-SSI units are required to file returns on monthly basis within 10 days from the date of completion of month.

A penalty may be charged which may extend up to Rs.5000/-.

The amount paid in the government account can be utilized for discharging the duty on goods cleared from the manufacturer's factory.

In case of default, interest is levied @ 18% per month starting from the date of default till the default is paid (subject to that interest does not exceeds the duty amount).

Assessee on payment of duty can take credit of such duty by utilizing it for the payment of the duty on the goods from his factory. This credit is called CENVAT. CENVAT Credit scheme facilitates the manufacturers/ Service providers to avail the credit of duties paid on the inputs/Capital goods/ Input services, subject to certain conditions. The Credit can be utilized for the payment of the duty on the goods cleared from his factory. Please consult our experts for further information.

Every assessee is required to file returns. Submission of excise return varies according to the type of assessee which can be tabulated as below:


Type of Return

 

Periodicity

 

Due Date For Filing

 

Who Can File

 

ER - 1

Monthly

10th of Succeeding month

Manufacturers of Central Excise, other than those who are required or entitled to file ER-2 or ER-3 returns

ER – 2

Monthly

10th of Succeeding month

Manufacturers who are 100% EOUs(Export Oriented Units) removing goods into the domestic tariff area

 

ER – 3

Quarterly

 

20th of completed quarter

 

SSI Units

 

ER -4

Yearly

 

30th November

 

Annual Financial information statement to be submitted by manufacturers who paid duty of excise more than Rs. One crore in the preceding financial year.

ER -5

Yearly

 

30th April

 

Units paying More than 1 crore duty (CENVAT + PLA).

 

ER -6

Monthly

10th of Succeeding month

Units paying More than 1 crore duty (CENVAT + PLA).

 

DEALER

Quarterly

 

15th of month succeeding completed quarter

 

Filed by registered first stage and second stage dealers giving details of the invoices issued by them and documents based on which credit passed on.

 

FinMart through its extensive experience in handling services related to Excise Duty provides the service of Filing of Excise returns on half yearly and monthly basis. Finmart a nalyzes the new amendments in excise duty and maps the same with the Company business operations to identify areas of improvements and suggest indicative solutions thereby improving tax efficiency.

We ensure reduction in overall cost of handling compliance work with sustained quality and smooth co-ordination with the excise tax authorities.

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