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Stock of slow moving jewellery ( dead stock ).

Rule 13 - Rule - Central Excise - Rule 13 - 13. Stock of slow moving jewellery ( dead stock ). - (1) An assessee maintaining separate stocks of manufactured and traded articles and showing the value of such manufactured and traded articles separately in his first sale invoice shall treat his dead stock as that of manufactured articles or traded articles depending upon whether such dead stock is part of his stock of manufactured articles or traded articles, as the case may be. (2) For an assessee .....

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of the return cycle, then the whole of the dead stock of such articles would be deemed to be that of traded articles, and new articles made out of such dead stock on its receipt back by the manufacturer or principal manufacturer, as the case may be, would form part of his traded stock of such articles. (3) For an assessee who opts to pay the excise duty as per the optional scheme under rule (12), the cumulative sales of a particular type of articles on which duty has been paid or which have bee .....

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Thus, two alternative situations can be considered in treatment of the dead stock at the end of the quarter: Situation 1 - Cumulative sales at the end of return cycle are more than the cumulative receipts of manufactured articles: i. Cumulative receipts of manufactured silver studded articles till the end of a quarter are 100 kg. ii. Cumulative sales of manufactured silver studded articles till the end of the quarter are 110 kg (out of which on 100 kg the manufacturer or principal manufacturer, .....

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