Rule 8

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SHYAMLAL KAYYARUVATH

SHYAMLAL KAYYARUVATH (Querist)

10 January 2012 DEAR SIR,

COULD ANYBODY EXPLAIN ABOUT RULE 8 OF CENTRAL EXCISE

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

10 January 2012 The duty on the goods removed from the factory or the warehouse during a month shall be paid by the 6th day of the following month, if the duty is paid electronically through internet banking and by the 5th day of the following month.

Provided that in case of goods removed during the month of March, the duty shall be paid by the 31st day of March:

Provided further that where an assessee is eligible to avail of the exemption under a notification based on the value of clearances in a financial year , the duty on goods cleared during a quarter of the financial year shall be paid by the 6th day of the month following that quarter, if the duty is paid electronically through internet banking and in any other case , by the 5th day of the month following that quarter , except in case of goods removed during the last quarter, starting from the 1st day of January and ending on the 31st day of March, for which the duty shall be paid by the 31st day of March.

Explanation.1. - For the purposes of this proviso, it is hereby clarified that an assessee shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs.

Explanation.2. - The manner of payment as specified in this proviso shall be available to the assessee for the whole of the financial year.

SHYAMLAL KAYYARUVATH

SHYAMLAL KAYYARUVATH (Querist)

10 January 2012 THANK YOU FOR YOUR VALUABLE INFORMATION SIR.

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