Achievers Career Academy

He friends
Export Procedures under Central Excise
Introduction
An exporter is not required to pay excise duty on input material if he executes a bond to the effect that the input material so procured by him will be used to produce finished goods that would be exported.
To the of his procurement; the supplier of the input material can remove goods without payment of Excise Duty (Notification 42/2001)
Alternatively, he can decide not to execute the bond and instead claim export incentives such as Duty Drawback; DEPB, etc.
An exporter who executes a bond to exempt himself from payment of excise duty will not be eligible to claim export incentives to the extent of excise duty exempted.

GREAT CLASS

HEY FRIENDS.
ACA IS HAPPY TO ANNOUNCE THAT ON LAST FRIDAY WE HAVE ANNOUNCE OUR FIRST BATCH FOR SPOKEN ENGLISH. WE HAVE GOT TREMENDOUS RESPONSE FROM THE STUDENTS ALSO. NEAR ABOUT 20 STUDENTS ENROLLED FOR THE SAME.

IN THAT BATCH I M SO MUCH HAPPY ABOUT ONE THING THAT IS EDUCATION DOES NOT HAVE THE BORDER. EVEN HINDU STUDENTS HAVE ALSO ENROLLED FOR THE SPOKEN BATCH.
COME AND ENROLLED FOR THE SAME AS EARLY AS POSSIBLE

HELLO FRIENDS AND STUDENTS,
OUR ACADEMY IS GOING TO START NEW BATCH FOR SPOKEN ENGLISH. HIGHLIGHTS OF THE BATCH ARE
*.U.S.A. AND U.K. RETURN FACULTY.
* FACULTY NAME JAVED ALUM AND RAFFAT QUADRI MADAM.
* JAVEDSIR IS U.S.A. RETURN FACULTY. HE HAS GOOD EXPERIENCE IN SPOKEN ENGLISH CLASS. HE WAS CONDUCTING HIS OWN CLASS. AFTER THAT HE HAS JOINED WINNY AS IELTS FACULTY.
* RAFFAT QUADRI MADAM WAS WORKING WITH TIMES OF INDIA. WHEN SHE WAS IN U.K. SHE WAS WORKING WITH B.B.C. ALSO. NOWADAYAS SHE IS RUNNING HER OWN NEWSPAER CALLED "BILKUL".
* SPECIAL WEEKEND BATCH FOR WORKING PEOPLE.
* SEPERATE BATCH FOR WOMAN.
* WEEKEND BATCH
* GOOD INFRASTRUCTURE WITH A.C.CLASS ROOM FACILITY
* REASONABLE FEES.
* CO-OPERATIVE STAFF.
* COURSE DURATION : 4 MONTHS.
ATTEND DEMO LECTURE AND AFTER THAT DECIDE.
PLEASE INFORM TO YOUR FRIENDS ALSO

He Friends
Valuation under Central Excise
Central Excise Valuation (Determination of price of Excisable Goods) Rules, 2000
When any or all of the basic conditions above is not satisfied then the value of the goods manufactured shall be determined according to the Central Excise Valuation (Determination of price of Excisable Goods) Rules, 2000.
These rules help us to arrive at the transaction value. Any rule more relevant to the current situation is applied in determining the transaction value.
Rule 1: TITLE- These Rules may be called the Central Excise Valuation (Determination of price of excisable Goods) Rules, 2000.
Rule 2: DEFINITIONS
Rules 2(a): ‘Act’ means Central Excise Act, 1944
Rules 2 (b): ‘Value’ means value referred to in section 4 of the Act.
Rules 2(c): Normal transaction value means the transaction value at which the greatest aggregate quantity of goods is sold
Rule 2(d): ‘Words and Expressions’ used in the Rules and not defined but defined in the Act shall have the meaning respectively assigned to them in the Act
Rule 3: This Rule provides that when Valuation of excisable goods has to be determined as per section 4(1)(b) of the Central Excise Act 1944, then, value shall be determined in accordance with these Rules
Rules 4: Removal of excisable goods at a time other than the time of removal based on the free samples:
When goods are removed at a time other than the time of removal based on the free assessee for delivery at any other time nearest to the time of removal shall be considered as the value of the goods under assessment.

He Friends
Valuation under Central Excise
Based on the Assessable Value with reference to Transaction Value:-
Transaction Value system is yet another system of determining the value of the goods manufactured for the purpose of levying duty. Under this system the transaction value of the goods manufactured is considered as the assessable value for the purpose of levy of duty.
The assessable value can be considered as assessable value if, and only if, all of the following conditions are satisfied:
(1) The Goods must be sold at the time and place of removal
(2) The assessee and buyer are not related
(3) The price should be the sole consideration for the sale
(4) Each removal will be treated as separate transaction and valued separately.

CONTACT : 8141666766 or 8141888789

Achievers Career Academy 11TH, 12TH COMMERCE, ENGLISH AND GUJRATI MEDIUM.
B.B.A., B.COM. M.COM., M.B.A. ENGLISH AND GUJRATI MEDIUM.
U.P.S.C., G.P.S.C., S.S.C., I.B.P.S., COACHING

He Friends
Valuation under Central Excise
Based on the Maximum Retail Price
As per section 4A of the Central Excise Act 1944, MRP provisions will be covered only when the following two conditions are satisfied:
• Goods must be specified under Legal Metrology Act, 2009, w.e.f. 1-8-2011 (earlier Standards of weights and Measures Act, 1976).
• Those Goods must be mentioned in the notification issued by the Government of India along with rate of abatement.
If the product is covered under MRP provisions, then the assessee must affix the MRP on the package, which is normally inclusive of all taxes. Provisions under section 4A have overriding effect over section 4 of the Central Excise Act.
Abatement refers to a reduction from MRP for purposes of computing the assessable value

He Friends
Valuation under Central Excise
Based on the Compound Levy Schemess
As per Rule 15 the Central Excise Rules, 2002, the Government of India may, by notification, specify the goods in respect of which an assessee shall have the option to pay the duty of excise on the basis of such factors as may be relevant to production of such goods (i.e. based on production capacity) and at such rates as may be specified in the said notification (i.e. compounding rates)

This option is available only to manufacturers who are manufacturing stainless steel pattas /patties and Aluminium circles. Once this option is exercised by the assessee, then he does not have to follow any procedure of excise regarding storage and clearance of goods.

He friends
Valuation under Central Excise
Based on the Tariff value
As per section 3(2) of the Central Excise Act, the Government is empowered to fix a per cent for computing tariff value of the manufacture to arrive at tariff value. The excise duty rate is then applied on the tariff value. Once the tariff value for a commodity is fixed, duty is payable as percentage of this ‘tariff value’ only.

He Friends,
Valuation under Central Excise
Introduction:-
Excise duty is computed
* On the value of the goods manufactured
* By applying the rates in force.
Hence, it is important to know the basis of valuation.
Basis of Valuation:-
(a) Based On Specific Duty
(b) Based on Tariff Value [ section 3(2) of the Central Excise Act]
(c) Based on Compound Levy Scheme [Rule 15 the Central Excise Rules, 2002]
(d) Based on Maximum Retail Price [Section 4A of the Central Excise Act, 1944]
(e) Based on Assessable Value with reference to Transaction Value [Section 4(1) of Central Excise Act, 1944]

Hi Friends
Excise Act, Basic Concepts
Incomplete or unfinished goods:
If the goods are incomplete or unfinished provided these goods have essential character of finished goods, then classify in same heading.
Example:
• Passenger Aircraft not fitted with seats will still be a passenger Aircraft.
• Motor Car fitted with whets tyers will be classified under the heading of Motor Vehicle.
• Parts of air conditioning machines removed in completely knocked down (CKD) or semi knocked down (SKD) packs will be classified as complete machine, if it contains essential elements of air conditioning machines, Because CKD or SKD is only for convenience of transport. [note that assembly at site does not amount to manufacture, these goods have already been manufactured in the factory]