CBEC ASKS MANUFACTURING COs TO FILE ANNUAL CAPACITY REPORT

Manufacturing companies will now have to file an annual statement of their installed capacity. The Central Board of Excise and Customs (CBEC) has made it mandatory for companies to give these details, in a move that is targeted at curbing rampant evasion in excise duty Every assessee shall submit to the superintendent of Central Excise, an Annual Installed Capacity Statement declaring the annual production capacity of the factory for the financial year to which the statement relates in the form specified by notification by the Board by 30th day of April of the succeeding financial year.