All goods that are produced or manufactured in India shall be charged a duty of excise called Cenvat at the rates specified in the Central Excise Tariff.
Every person who manufactures, produces, carries on trade, holds warehouses for excisable goods shall have to obtain registration under the excise laws.
No excisable goods may be removed from the factory or a warehouse except under an invoice signed by the owner of the factory or his authorised agent.
Every assessee has to submit to the superintendent of Central Excise a monthly return in the specified form. For specified situations such as manufacture of goods exempt under a notification, a prescribed declaration and/ or a financial statement needs to be filed.
Credit of service tax paid on input services, by a manufacturer of goods, is now available, in addition to the credit that was available in respect of inputs/ capital goods.
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