OFFICE OF THE COMMISSIONER OF CUSTOMS AND CENTRAL EXCISE
TRADE NOTICE NO. 5/2007 – CENTRAL EXCISE
Sub: Amendment to Central Excise Valuation (Determination of Price of Excisable Goods), Rules, 2000 and the CENVAT Credit Rules, 2004.
F.No. :- V/30/11/(C )/07-CX.I
Date :- 16/03/2007
Trade is hereby informed that the Central Excise Rules, 2002, the Central Excise Valuation (Determination of Price of Excisable Goods), Rules, 2000 and the CENVAT Credit Rules, 2004 have been amended vide Notification Nos. 8, 9 and 10/2007-C.E.(N.T) all dated 01.03.2-007 respectively. The highlight of few important changes are as under :-
2. Rule 8 of the Central Excise Rules, 2002, has been amended to make e-payment mandatory for payment of duty by all the assessees who have paid Central Excise duty of Rs. 50 lakhs or above in cash or through PLA during the preceeding Financial Year (2006-07). This provision would come into effect from 01.04.2007. All the asses sees who have paid Central Excise duty of Rs. 50 lakhs and above in cash or through PLA during the preceeding Financial Year (2006-07), would be required to pay Central Excise duty electronically from April, 2007. (REFER :- This Office Trade Notice No. 3/2007-CE dated 14.03.2007)
3. Sub-Rule (2) of Rule 11 of the Central Excise Rules, 2002 has been amended to include the address of the jurisdictional Central Excise Division in the invoice. This change too comes into force from 01.04.2007 only. All the assessees, including first and second stage dealers are requested to take note of this change. It is, however, clarified that the existing printed invoices lying in stock as on 01.04.2007 can be used, and in address of the Division may either be hand written or stamped on such invoices.
4. Rule lOA has been inserted in the Central Excise Valuation (Determination of Price of Excisable Goods), Rules, 2000. This rules provides that where goods are manufactured by a job worker on behalf of a person (commonly known as principal manufacturer), the value for payment of excise duty would be based on the sale value at which the principal manufacturer sells the goods, as against the present provision where the value is taken as cost of raw materials plus the job charges. This provision has been made effective from 01.04.2007.
5. All Trade Associations are requested to bring the contents of this Facilitation measures to the notice of their member manufacturers and trade in general.
(Authority :- Member, CBEC, New Delhi
D.O. F.No. 201/03/2007-CX.6)
Dated 05.03.2007
sd/- 16.03.2007
SHEO NARAYAN SINGH
COMMISSIONER