purpose of registers

[Former Member]

Gurus

i have searched the forum and did not get the sutiable answer for this .so give me your answers.

what are this registers exactly ,

why are they used ,

why we need to update the registers,

as sd people do we really need to take care of registers if so when and why?

if any one has a link on registers kinldy post

[Former Member · Accepted solution]

Hi Shiva,

I hope you are asking about CIN Registers:

As per Indian Law, the excise authorities require you to maintain the following registers relating to excise duty.

• Register RG 1

• Register RG 23A, Parts I and II (for raw materials)

• Register RG 23C, Parts I and II (for Capital goods)

• Register RG 23D (applicable only to Ist or IInd stage dealers)

• Personal Ledger Account (PLA)

Besides, ER-3 (formerly RT-12) returns have to be filed monthly (or quarterly for SSIs).

Register RT-12 Register RG 23A and 23C

When the ordered materials arrive, you post the goods receipt and the excise invoice. The R/3 system posts the excise duty to the appropriate accounts for deductible input taxes when you enter the excise invoice.

A record of all receipts and issues related to excisable materials is being kept in excise register in RG 23A (Raw Material) and RG 23C (Capital goods) by manufacturing plants. The register consists of two parts:

• Part I shows the quantities of the materials.

• Part II shows the amounts of excise duty on the materials, and how much you have transferred to the CENVAT accounts.

Part I Entries

When you enter a goods receipt for excisable materials, the system automatically asks you if you want to create the Part I entry in Register RG 23A or RG 23C. If so, the system generates a Part I entry. If not, it does not, but you can generate all missing Part I entries later.

In the following two cases, the system does not automatically generate Part I entries for goods issues of excisable materials;

• A goods issue for vendor returns

• A goods issue for stock transport orders for plants (in case of Goods Movements transaction only)

Part II Entries

The system automatically creates an entry in Part II of the appropriate register in case of posting of an incoming excise invoice, or an outgoing excise invoice. All Part II entries are serially numbered. An accounting document for each posting is created by the system to transfer the various types of excise duty to the appropriate CENVAT account.

Regards,

Abhee.

[Former Member · Accepted solution]

lakshmipathi thank for your reply.

abhee your reply is so understandable and most of us who are having confusion will be clarrified with this post. thank you once again to you.

gururs still i have a questions.

1. which registers sd consultant to take care?

2.tell some thing about PLA?

3.what are captial goods ?

4.when we receive the raw materials from vendors we will pay some exercise and then when we sell dispatch the finshed goods to from the plant we pay the execise once again. so tell me this process how it takes from receiving the goods to dispatching of the goods . in what way the system takes care about this process

[Lakshmipathi · Accepted solution]

Dear Shiva

1. which registers sd consultant to take care?

Only FI / MM consultants will have to take care of all statutory registers

2.tell some thing about PLA?

The excise authorities require you to maintain a number of registers relating to excise duty. They have to be printed out monthly and shown to the authorities in the event of an audit. One among those registers is Personal Ledger Account. This is the bank account from which you transfer any money owing to the excise authorities

3.what are captial goods ?

"Capital Goods" is a specialized term which are owned by individuals, organizations, or governments to be used in the production of other goods or commodities. Capital Goods include factories, machinery, tools, equipment, and various buildings which are used to produce other products for consumption. Capital Goods also refers to any material used or consumed to manufacture other goods and services. Capital goods are the products which are not produced for immediate consumption; rather, they are objects that are used to produce other goods and services

4.  Excise duty on procured components

Your procured price will be much lesser than the selling price. So obviously, you would be recovering more excise duty from customer than what you pay. On your comments in what way the system takes care about this process for incoming component the duty structure has to be taken care of by MM and from SD side, you have to take care of outgoing excise duties for which, CIN needs to be addressed.

thanks

G. Lakshmipathi

[Lakshmipathi]

Dear Shiva

Manufacturing units in India will have to submit statutory returns to Central Excise and Sales Tax authorities on a regular basis and the periodicity would be on monthly basis.

Manufacturing units will have to maintain Daily Stock Account, Credit Registers, and Personal Ledger Account and remit duty in Bank under TR 6 Challans. Your private documents are accepted. Furnish list of your Private documents like Stores Ledger, Sales Ledger, General Ledger, Job Work Register etc., to Central Excise Authorities.

For more information on this, go through these links

[Central Excise Forms and Registers |http://www.cbec.gov.in/excise/formidx.htm]

[Service Tax Forms|http://www.servicetax.gov.in/st-formmainpg.htm]

[Customs related Forms|http://www.cbec.gov.in/customs/forms_pdf/forms_idx_final.htm]

The last one relates to exports

thanks

G. Lakshmipathi