TMI BlogCentral Excise - New format of RT-12 Return specified under Rules 54 and 173G of the Central Excise Rules, 1944 - Instructions regX X X X Extracts X X X X X X X X Extracts X X X X ..... to review the format of Returns being submitted by assessees. Notification No. 48/2000-CX(NT) dated 18th August, 2000 (copy enclosed) has since been issued whereby new RT-12 Form has been prescribed, in place of the existing RT-3/RT-3 (modified) and RT-12 Forms. Rule 57AB has also been amended to clearly indicate the manner of utilisation of Cenvat Credit while discharging duty liability on fortnightly basis (or monthly basis in case of Small Scale Industries ). It may be noticed that no basic changes have been made in the said return which may cast any significant additional burden on the assessee, while making certain modifications in the proforma. As duties required to be paid on individual consignments need not be paid at the time o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit Account maintained by the assessee cannot exceed the balance at the last day of the month. Example : The total duty payable for the first fortnight clearances comes to Rs. 1000. The Cenvat Credit (relating to input and capital goods taken together) available on the '15th day is Rs. 500/-. The Credit availed on inputs and capital goods 'received during the 16th day to the 20th day is Rs. 200/-. The closing balance of Cenvat Credit available on 20th (the day he is discharging his duty liability) is Rs. 700/-. However, he can use Cenvat Credit only to the extent f Rs. 500/-, the credit which was available on the 15th day of the month, for discharging the duty liability for the first fortnight. Same principle will apply to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fresh credit / deposit. Utilization CB). Only details of total payments of duty, interest for the month's clearances and other miscellaneous payments and modes of payments are to be indicated at the end under heading 9 10. The assessee in view of Notification NO. 36/2000-CE(NT) dated 28.4.2000 is. required to furnish a detailed statement of the total credit of a31 the inputs / capital goods received during the month. This statement also gives a summary at the end of the month. The assessee should be asked to give the total of credit availed for all the receipts in the first fortnight, and the total credit availed for receipts jn the second fortnight also while submitting this statement, apart from giving opening balance, total credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the PLA after discharging the second fortnight duty liability. The units in the SSI sector could suitably modify this summary as they are required to pay duty on monthly basis. The instructions in the form of "NOTES" given at the end of the RT-12 return elaborate further the manner in which it should be compiled and the information furnished in the Department. The following are worth special notes in this regard :- (a) The RT-12 Return as notified now is to be used for purposes of both Rules 54 and 173G. The erstwhile forms RT-3 and RT-3 (modified) have been omitted and Form RT-12 has been prescribed for the purpose of Rule 54 also. (b) The same form is to be used by Organised sector as well as SSI units given facility of mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will be based upon the sum total of duty liability indicated in the invoices for the clearances effected (where duty is payable), the total duty payment will be consolidated , adjustment through account current and Cenvat credit account, as may be decided by the assessee. (e) Wherever, the duties are not paid within the stipulated period, the interest liability will have to be worked out and indicated in the return , the calculation sheet by the assessee should also be attached with the return to facilitate the checking by the range staff whether the proper amount of interest, if leviable, has been paid or not. All the Trade Associations are requested to bring the contents of this Trade Notice to the notice of their member manufactur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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