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Rule 12 - Central Excise - Rule 12 - 12. . - (1) Notwithstanding anything contained in sub-rule (1) of rule (7) or sub-rule (3) of rule (8), the manufacturer or principal manufacturer, as the case may be, dealing in both manufactured and traded articles, may also pay excise duty on his first sale value, by treating his first sales during a month solely as sale of manufactured articles, if the quantity of such sales during the month is less than or equal to the opening stock of manufactured artic .....

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2016 such declaration may be given by the 31st day of July, 2016: (2) An option given under sub-rule (1) shall be valid for whole of the financial year for which it is given by the manufacturer or the principal manufacturer, as case may be. (3) For availing the under sub-rule (1) a manufacturer or principal manufacturer, as the case may be, shall maintain,- a) a record containing the stock details of manufactured articles and traded articles separately for silver studded articles; gold or platin .....

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opening stock of traded articles on which no excise duty shall be payable. (6) If the sales during a month are in excess of the sum total of the opening stock of the manufactured articles and opening stock of traded articles, then such excess sales shall first be deemed to be that of manufactured articles received during that month and the balance, if any, shall be deemed to be that of traded articles received during the month (7) If the sales during a month are less than the opening stock of ma .....

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ck as on 1st April manufactured stock traded stock silver studded articles 60 20 gold or platinum articles studded with diamonds 30 20 other gold or platinum articles 20 20 sells during the month of April total sales silver studded articles 50 gold or platinum articles studded with diamonds 20 other gold or platinum articles 10 receives during the month of April manufactured stock traded stock silver studded articles 60 10 gold or platinum articles studded with diamonds 30 30 other gold or plati .....

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acturer or principal manufacturer for the month of April shall be the sum total of the excise duty payable on 50 kg of silver studded articles, 20 kg of gold or platinum articles studded with diamonds and 10 kg of other gold or platinum articles. After deducting the sales during the month of April, the closing stocks of manufactured and traded articles as on 30th April, which shall also be the opening stock as on 1st May, of three types of articles, with the manufacturer or principal manufacture .....

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g the month of April total sales silver studded articles 70 gold or platinum articles studded with diamonds 40 other gold or platinum articles 30 receives during the month of April manufactured stock traded stock silver studded articles 60 10 gold or platinum articles studded with diamonds 30 30 other gold or platinum articles 20 40 As the sales during the month for the three types of articles are more than the opening stocks of respective articles, the first sale equal to the opening stock of e .....

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ver studded articles, 30 kg of gold or platinum articles studded with diamonds and 20 kg of other gold or platinum articles. After deducting the sales during the month of April, the closing stocks of manufactured and traded articles as on 30th April, which shall also be the opening stock as on 1st May, of three types of articles, with the manufacturer or principal manufacturer shall be as under: Closing stock as on 30th April / opening stock as on 1st May manufactured stock traded stock silver s .....

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ld or platinum articles 30 receives during the month of April manufactured stock traded stock silver studded articles 60 10 gold or platinum articles studded with diamonds 30 30 other gold or platinum articles 20 40 In this case, the sales during the month for the three types of articles are more than the opening stocks of respective manufactured articles. Further, the sales of in respect of gold or platinum articles studded with diamonds are even higher than the sum total of opening stocks of m .....

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