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Salient Features in Central Excise Tax

It is necessary to pay taxes on all the goods manufactured, unless exempted. The Central Excise Duty is levied as soon as the goods are manufactured or produced. Here’s a list of features the Central Excise Tax comprises of:

· It calculates assessment values, Central Excise Duties and different set-offs for both ECC registered manufacturers and ECC registered traders.
· It has a clear framework for classification of goods
· It complies to all compliance procedures under Central Excise
· Based on Government notifications, it is updated on regular intervals
· It calculates Excise Duty on the basis of MRP / Abatement / Pro-rata / Deemed Credit
· It generates statutory reports such as ER-I, ER-III, ER-V and ER-VI
· It generates reports for Labour Job units such as Annexure II, Annexure IV , Anexure V, Annexure VI
· It generates reports and registers for Exporters such as B1, ARE 1, ARE 3, CT3, Annexure 18 and Annexure 19
· It helps maintaining registers such as PLA, RG 23 A Part I, Part II, Service Tax Credit Register, RG 1, Form IV, Form V
· It allows direct posting of invoice to RG 23 D and Form -2 Registers , Annexure II for Excise Trading units
· MIS reports with or without provision for personalization
· It enables e-filing as per Government requirements

If you are finding it difficult to meet the statutory obligations of your enterprise, we can help you in streamlining your organizations’ taxation process. Being a tax automation expert, we at Udyog, provide a comprehensive suite of CenVAT processing for traders as well as manufactures of all domains. From Gate challans to enabling accurate e-filing, we offer everything related to tax processing under one roof. Our in-house tax experts can also aid you stay in tune with the dynamic and ever changing Indian statutory norms, thereby help you in gaining control of your business processes and enabling you to achieve your desired business goals.

By Udyog Software Marketing Team

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