CBIC notifies special registration & monthly returns for tobacco, pan masala, etc.

In a significant move to enhance regulatory oversight, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a transformative notification – No. 04/2024 – Central Tax, dated January 05, 2024. This notification outlines a specialized procedure for manufacturers involved in the production of tobacco, pan masala, and analogous products. Let's delve into the key facets of this new directive and explore what it means for manufacturers in this sector.

 

Table Section
1. Introduction
2. Streamlining Registration: Details of Packing Machines (FORM GST SRM-I)
3. Special Monthly Statement (FORM GST SRM-II)
4. Certificate of Chartered Engineer (FORM GST SRM-III)
5. Schedule - Description of Goods
6.  Conclusion

 

1. Streamlining Registration: Details of Packing Machines (FORM GST SRM-I):

Manufacturers of specified goods must now provide intricate details of their packing machines through FORM GST SRM-I. This initiative aims to streamline the registration process and promote transparency in the manufacturing sector.

• Submission Timeline: Within thirty days of the notification's implementation, registered manufacturers are required to electronically submit details of their packing machines on the common portal.

• New Registrations: Entities newly granted registration post-notification issuance must furnish these details within fifteen days of registration.

• Timely Updates: Manufacturers must promptly update the portal within twenty-four hours of any additions or changes to the machinery, ensuring a real-time reflection of their operational landscape.

• Unique Registration Number: A unique registration number will be generated for each machine upon submission, facilitating effective tracking and management.

• Declaration to Other Departments: Manufacturers are obligated to declare production capacity to other government departments within fifteen days of filing or within thirty days if declared before the notification's issuance.

• Disposal Reporting: In the event of disposing of any packing machines, manufacturers must report the details within twenty-four hours, maintaining an accurate record of machinery transactions.

2. Special Monthly Statement (FORM GST SRM-II):

A pivotal component of this notification is the introduction of a Special Monthly Statement, FORM GST SRM-II, which registered persons must submit electronically on the common portal by the tenth day of the succeeding month. This monthly reporting mechanism adds a layer of accountability and ensures that manufacturers provide timely and accurate updates on their production activities.

 

3. Certificate of Chartered Engineer (FORM GST SRM-III):

To bolster the authenticity of the information provided, the CBIC mandates manufacturers to upload a certificate from a Chartered Engineer, designated as FORM GST SRM-III, for the machines declared in FORM GST SRM-I. This not only validates the accuracy of the submitted data but also establishes a structured protocol for any subsequent amendments to machine details.

 

4. Schedule - Description of Goods:

The notification includes a detailed Schedule categorizing goods related to tobacco, pan masala, and similar items. This comprehensive classification aids in clear identification and adherence to the specified regulations.

 

Conclusion:

In conclusion, CBIC's notification heralds a new era of regulatory compliance for manufacturers in the tobacco and pan masala industry. By meticulously adhering to the outlined procedures, businesses can not only ensure compliance but also contribute to the broader goal of fostering transparency and accountability in this sector. As the effective date of April 01, 2024, approaches, manufacturers are encouraged to proactively adapt to these changes for a seamless transition into the new regulatory landscape

 

To Read The  Notification Accessed at: CLICK HERE