Daily Stock account
Rule 10 of the central excise rules 2002 deals with this. It specifies as under:
(1) Every assessee shall maintain proper records, on a daily basis, indicating the particulars regarding description of the goods produced opening balance, quantity produced or manufactured, inventory of goods, quantity removed, assessable value, the amount of duty payable and particulars regarding amount of duty actually paid.
(2) The first page and the last page of each such account book shall be duly authenticated by the producer or the manufacturer or his authorized agent.
(3) All such records shall be preserved for a period of five years immediately after the financial year to which such records pertain.
Daily stock account should show the status of the raw material, work in progress & finished goods. It should disclose the no of units of stock available along with location of the goods. Eg: Location of stock in production or service floor or transferred to sales department.
DSA can be filled based on the documents like production slips, GRN, Bin cards, sales requisition etc.
Posted 2 years, 6 months ago by Mukesh Jain CA
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