Single Registration for Importer and Trader - CBEC Issues Notification and Circular
BY Notifications No. and both dated 28.2.2014, the CE Rules and CENVAT Credit Rules were amended to stipulate that an importer who issues an invoice on which CENVAT Credit can be taken, is required to get registered and file a quarterly return.
Now by Notification No. dated 28th June, 2016, it is stipulated that an assessee who is registered as a First Stage Dealer shall not be required to take registration as an importer and vice-versa.
An assessee who conducts business both as an importer and a First Stage Dealer may take only one registration as he has been exempted from the requirement of taking a second registration. Board says that the facility is optional and any assessee needing separate registration for his own business purposes, may so register.
Such assessee who conducts business both as a First Stage Dealer and an Importer, henceforth shall also have the option of filing a single quarterly return giving details of transactions as a first stage dealer and an importer, one after the other in the same table of the return, viz., all transactions as first stage dealer during the return period shall be followed by all transactions as an importer during the same return period.
Please also see 24 05 2016
CBEC Circular No. 1032/20/2016-CX, Dated: June 28, 2016