The Leadership Of Youth In Nation Building Education Essay

The Leadership Of Youth In Nation Building Education Essay INTRODUCTION The term nation building is usually used to refer to the constructive process of engaging all citizens in building social unity, economic prosperity and political stability in an inclusive and democratic way. A nation is built out of the human intellect. This means that a nation cannot be built without the recognition and the collective efforts of all citizens, skilled and unskilled, young and old. Young people are a crucial segment of a nations development. Their contributions, therefore, are highly needed. Young people are social actors of change; and as the saying goes, The youth are not only the leaders of tomorrow, but also the partners of today. It is well known that the most vibrant section of every society is the youth. Therefore, the youth have the responsibility of being at the fore-front of any national exercise. Youth is that period when a man is full of energy, ambitions and zest for life. The power possessed by youth is a recognised force today. The power or the energy can be used for both constructive and destructive purposes. Whenever there is unrest in a country, political forces use youth for their further selfish interests [1]. Youth Leadership skills are relevant to young peoples personal development, as well as their role within a group. On a personal level, youth experiences gain insight into themselves. This helps them analyze their strengths and weaknesses and set personal and vocational goals. On a group level, youth develop the ability to work with others to create a shared vision and to draw on the talents, skills, and energy of others. The task of nation building is very challenging and can be divided into phases. Everyone can contribute towards it according to his or her capabilities. The young people should be made to understand a specific project and its importance to the society. They should be given a suitable direction so that they can work hard for its fulfilment. This will make them satisfied by the realisation that they have been assigned roles in the nation building. They would be prepared to work sincerely for the welfare of the society and the country. Every citizen, including the youths, should always have it at the back of their mind that nation building is a collective effort of all citizens in constructing a desired country. No contribution is too small or too big. It must also be noted that nation building starts from the community level up to the national level. LEADERSHIPS IN NATION DEVELOPMENT FORWARDING TO 1 MALAYSIA AND VISION 2020 The young, according to Pearl S. Buck (a Nobel Laureate in literature) do not know enough to be prudent, and therefore they attempt the impossible, and achieve it, generation after generation. Youth is that clay which can be melded in either shape one wants. In our belief, this is the sole reason for both exploitation and utilization of youth in the destruction and construction of any nation respectively. It is a fact that, the nations building is highly dependent on youth. Youth is that spark which needs no ignition. Youth is that powerful resource, which can either construct or destruct the whole nation. No doubts youth should step forward to take up on the responsibility in developing the nation. The countrys leadership should also embrace youths, as well as youth organisations, as they are the leaders of the future and would contribute to the nation-building efforts [2]. Awareness among youth is to be raised about the development issues and their potential roles in the country. It is also important to involve young people in the consultative process of designing policies that affect youth. If young people are inexperienced at work, they will also be inexperienced about policies but there are some important lessons that we have learned. For example, youths in their upper teens and 20s have been consulted, if not in decision-making, at least in informing them about legislation that would affect their lives. As such, the government policies and constitutional provisions which safeguard the needy will continue to be implemented. Prime Minister Datuk Seri Najib Tun Razak said that the 1Malaysia concepts ultimate objective is to achieve national unity among its people. He said In other words, 1Malaysia is a concept to foster unity in Malaysians of all races based on several important values which should become the practice of every Malaysian [3]. Malaysia is a formula which serves as a prerequisite to ensure realisation of the countrys aspiration to achieve developed nation status by 2020 if it is assimilated in the people and practised by society. If Bangsa Malaysia (the Malaysian race) outlined in Vision 2020 is the ultimate objective of this journey, then 1Malaysia is the guide pointing the way towards that objective. As such, youth leadership is one of the very important elements to ensure that the concept would not deviate from what had been agreed to by our forefathers. In fact, 1Malaysia values and respects the ethnic identities of every community in Malaysia and regards them as assets to be proud of. Y outh in order to make his/her country developed, has to sacrifice not only their lives by protecting their country at the borders but also has to protect from internal threats, and make the society a healthy place to live. It is possible only, if the youth realize to stay healthy by sacrificing selfishness, laziness, evilness etc., and by thinking dedicatedly for the growth of nation. Ignorance, fear, prejudice and apathy, if left unchecked, are fertile ground for breeding hatred, extremism, fatalism and fanaticism, which are the root causes of the worlds ills. So, youths of today play very significant role to demonstrate strong leadership potential, personal drive, and a passion and energy for making a difference in our community and country. No obstacle is too high, too deep or too wide for us to overcome if all of us especially the young generation who will be the leaders of tomorrow willing to join hands, think and act together as 1World. By quoting an old Malay proverb that Together, people could conquer all peaks and traverse all valleys. One way to inculcate youth leadership, youth can participate in the youth leadership academy [4]. The Youth Leadership Academy is dedicated to nurture and to build capabilities of future young leaders. As a participant, we will have the opportunity to improve our leadership skills, and be inspired by Malaysias most successf ul corporate leaders and young professionals. It is true that, youth is highly amendable, but one must show the guts to take up the challenge to guide the youth to a correct path. The central purpose of advocating youth leadership is to support youth in taking the initiative to engage in civic and community activities in order to build on their strengths and self-esteem and to work together as a team in building leadership skills. Youth leadership groups are similar to other youth development groups in that they are structured to offer youth educational, interesting material and resources that address current youth issues. Youth leadership groups are run by the youth themselves, but facilitated by a staff person in your program. Because the groups are self-directed by youth, the facilitator should serve as a support and guide for youth development. The key for the 1Malaysia concept is to practise mutual respect and trust among the different races in Malaysia. However, mutual respect is not just tolerance [5]. That is just the bare minimum. Mutual respect means we have embraced unity in diversity. And secondly, we must trust one another. But trust is not something gained overnight. But if done consciously over time, it will eventually happen. Once trust is developed, Malaysia will be the sum total of all races. We will not be moving as separate communities but as one Malaysia and we will be stronger. It will be a new Malaysia because well change our mindset because we trust and respect each other. We hope all will join us to bring Malaysia to greater heights. That is why youth leadership programs come in handy whereby they enable the youths to learn from the best, and really develop themselves personally and professionally! According to the National Centre on Secondary Education and Transition, youth leadership activities can help contributing to and being involved in promoting the well being of the community, developing and using a positive attitude within leadership activities, developing strong, trustworthy relationships with responsible adults and peers, interacting and collaborating with individuals from diverse cultural and ethnic backgrounds, participating in a wide array of career exploration activities, maintaining a commitment to academic and lifelong learning, maintaining and demonstrating a healthy lifestyle. In a nutshell, the core elements of unity are, firstly, the attitude of acceptance among the races and the people, secondly, principles of nationhood based on the Federal Constitution and the Rukun Negara (National Ideology), and, thirdly, social justice. As such, the government policies and constitutional provisions which safeguard the needy will continue to be implemented Malaysia has come a long way since its independence. It has survived the Japanese occupation, followed by colonization by the British Empire. After years of power struggle and much bloodshed, Malaysia is now 52 years old and growing since it freed itself from the grip of foreign forces. However, independence was not the final objective of Malaysia. Inspired by the struggle of our forefathers, Malaysia craves for global recognition as a developed nation as well as a place on the world map. Who then is to lead Malaysia into achieving this particular dream? The answer is definitely not the current leaders as human is of finite life. It is worth mentioning a quote from our former premier, His Excellency YAB Tun Dato Seri Dr Mahathir Mohamad during one of the recent Malaysian Business Council meetings. He (Dr. Mahathir) mentioned that most of the present council members will not be present on the morning of January 1, 2020; instead, the great bulk of work that must be carried out to ensur e Malaysia as a fully developed nation will obviously have to be done by the present generations youth. However, the current leaders should not neglect their role in guiding them (the youths) as well as lay the secure foundations that the youths will build upon [6]. The ultimate aim of Vision 2020 is to make Malaysia a fully developed country, hoping that Malaysians born today and in the years to come will be the last generation of citizens to live in a country that is called developing. What then you might ask is a fully developed country? Just as Dr. Mahathir put it, a developed country should not only be developed in the economic sense but also be fully developed along with all other dimensions namely politics, social, spiritual, psychology and culture [7]. The aforementioned criteria carry a significant amount of truth in them. In terms of politics, if the ruling government is corrupted and insensitive towards the community he or she serves, the country will not be able to progress. An unstable political system often results in chaos as it results in public demonstrations whereby in some cases, violent clashes between citizens and the nations defense body may occur. Violent situations like this creates an image of fear and insecurity and oft en these are the major factors that influences the decision of foreign investors on whether to invest, continue investing or to pull out. As mentioned earlier on, human life is finite, hence the current governing body will need replacement someday and this replacement will ultimately be succeeded by the current generation the youths. From the above paragraphs, it is noted of the significant role the youths of today will have to bear in the future. What about the current youths? How are they contributing towards the nations growth? Youth bodies or communities such as B.R.A.T.S., Rakan Muda, YouthSays, and the like are led by youths and for youths. Its activities comprise of culture, social, sports, and etcetera. So how is it this a contributing factor towards the countrys development? Recalling what Dr. Mahathir mentioned earlier on, the development of the country should be developed along with other dimensions such as, social, spiritual, psychology and culture. Youth bodies such as the aforementioned promotes social bonding activities via forums, sports, support groups, and so forth. Furthermore, Malaysian culture can be promoted too via its cultural activities in the form of dance, drama, music, and so on. As mentioned earlier on, these bodies are led by youths for youths and it is only through successful leader ship that will permit all these activities to be executed successfully. In other words, the present youths too contribute towards the developing of our nation. To sum it all, youths whether it is present or future play a major role in contributing towards the success of Vision 2020 furthermore the development of the country. Let it be present or future, it is the youths that will eventually succeed their predecessors moreover lead the country towards its goals and vision. The capability of youths is powerful as displayed in their current activities and they are inevitably going to be the nations upcoming successful leaders. This is why youths are the key in succeeding the countrys Vision 2020. EFFORT TO INCULCATE YOUTH LEADERSHIPS IN MALAYSIA YOUNG ENGINEERS AND PARTIES INVOLVED Empowering youths towards leaderships enables all of us to get involved in nation building besides promoting national unity and social integration as well as becoming the role models in the society. Efforts has been undertaken to equip youths with the necessary skills and qualities to ensure them of a better future and to meet the accelerated pace of economic development and the changes in the environment. The strategic thrusts for the development of youths will be as follows [8]: Empowering youths for the future through improved access to education and training; Increasing participation of youths in youth organizations; Inculcating the spirit of competitiveness among youths; Strengthening the legal framework of youth development programs; Promoting national unity and social integration. To encourage youths to participate actively in nation-building, their accessibility to education and training will be further enhanced while leadership and skills training, entrepreneurial development and healthy lifestyles program can be carried out more extensively. In addition, self-confidence and discipline are positive elements which should be incorporated in the character building program. Measures shall be undertaken to increase the accessibility of the youths into life-long learning program through distance education and non-formal education as an effort to ensure balanced development. With the healthy mental and physical attributes, excellence results in nation growth could be achieved. According to the Ninth Malaysian Plan, National Youth Research Institute will be established to undertake research in six areas, namely socialization of youths, culture and religion, youth potentials and integrity, youth organizations, leadership and volunteerism, education as well as political awareness. Besides, national youth act Youth Societies and Youth Development 2007 has been introduced to ensure the youth programs are implemented in an integrated, coordinated and synergistic manner. In the aspect of leadership training, effort has been put to build a new breed of young leaders as prime movers of development. In this regard, the curriculum of leadership training program could be strengthened to make it more proactive and relevant to future needs. It is estimated that about 100,000 youths, including NGO leaders, will be trained under this program [8]. The government will continue to develop and instil leadership qualities among youths by conducting courses and training on good values and positive attitudes. Special courses on values will also be conducted to mould youths as responsible citizens and role models in society. Greater awareness on the important role of youths in forging and promoting unity towards building a united Malaysian nation has been given priority in the leadership training programs A quality youth leader should equip themselves with soft skills in order to outperform as a nation builder. As Malaysia is a multi racial country, interaction and communication among each other should be further enhanced in order to bring our nation to leap on a larger step of improvement with all of us working together on it. Hence, to check racial polarization among youths, more multi racial youth organizations could be established to allow for greater interaction among them. In addition, good moral values such as understanding, harmony, respect for the culture and tradition of other races, goodwill and trust will also be inculcated among the youths to enhance nation building efforts. The private sector will also be encouraged to contribute to youth training as part of their social responsibility. More active participation of youths at the international level could be promoted through intergovernmental and non-governmental institutions. In effort of nation building involving wide range of people, the implementation of Rakan Muda Programs has been strengthened to focus on specific target groups, particularly youths who are out of the education system and the unemployed youths as they are more vulnerable and easily influenced to be involved in negative and unhealthy activities. In this regard, Rakan Muda Program will focus on efforts to create role models among youths who are caring, skilled and dynamic. In addition, these programs will also focus on enhancing cooperation amongst agencies involved in the social agenda [8]. A program named, Program Memperkasakan Tenaga Muda, will be implemented specially for youths who are not selected for PLKN. Activities and modules under the PLKN will be carried out to ensure those who are not selected for the PLKN training to be exposed to similar program which helps a lot in character building towards quality leaderships. To better prepare students for the PLKN, the Government will incorporate this program into the co-curricular and curriculum in secondary schools. The participants of the PLKN will be encouraged to join Rakan Muda Program to continuously nurture the spirit of volunteerism and solidarity amongst them [8]. The various skills and leadership training program aimed at empowering youths has been undertaken by the Ministry of Youth and Sports, Ministry of Entrepreneur and Cooperative Development and Ministry of Human Resources. Nevertheless, combating social problems among youths could help in nation building. The measures should be taken to avoid the youth from influences by negative and unhealthy activities, but on the other hand improving self inner qualities in order to contribute to the country as well as leading the nation towards progressive development. During the Ninth Malaysian Plan period, the Government has continued to give emphasis on preventive and rehabilitative program to combat social problems among youths. Closer cooperation between the local communities and government agencies in stemming crimes among youths will be established. In addition, training program for youths in the high-risk crime group will be carried out to nurture them to become responsible citizens. Apart from producing a productive and disciplined young generation, youth development program should continue to focus on skills training and entrepreneurial development to encourage self-employment among youths. They will be trained to be resilient and to withstand challenges in a competitive environment through on-the-job training and exposure to real work situations. This is to prepare ourselves towards real time challenge as we ultimately will come to work environment and contributes in different aspect or in different fields. Youth leadership program had given emphasis on the role of youths in society and fostering national unity with a sense of common and shared destiny. ROLE OF YOUNG ENGINEERS AND SUCCESSFUL EXAMPLES One may see an engineer as a person with a university education in engineering who may take an idea and turn it into a useful thing for other people to use. An engineer may make a better mouse trap, or tell people how best to build a bridge or a skyscraper. Whatever things to they wish to do, an engineer is to make sure people are safe and the next is to improve life. They can become very good engineers who can handle tools and machineries. Die-hards and loyal engineers to these perceptions have been losing out in terms of managerial positions, wealth and leadership to those who are enterprising and see business as well as quality management as prime factors to improve life, build better bridges and skyscrapers. In this fast changing world, the expectations towards engineers have changed. Engineers have to leave their cocoon if they wish to be better engineers of today and see the reality of life which is getting more sophisticated and complex. They need skills to manage people, technology, money, physical facilities, time, money and other resources. In addition, they also need to communicate effectively with society and other non-engineering people from various professions. Prestigious universities in the USA have been pushing for changes in their engineering programs. One might wonder why and whats behind the sudden push by universities to produce people-smart engineers? Successful engineers must learn to be a leader not mere follower neither only as a faithful employees in an organization. These skills and knowledge shall be acquired from the humanities and social sciences disciplines. An engineer must no longer a person who is shy away from things and challenges to be confronted as they can be better engineers, scientists and wealthy entrepreneur with their equipped technical and interpersonal skills as well as passion in solving problems for improvements. Engineering is a profession that covers a wide variety of disciplines. The tasks and studies of the various fields of engineering are vastly different, though each requires problem solving through the use of mathematical and scientific principles. Such fields include civil, electrical, aerospace, computer, chemical, environmental and mechanical engineering. No matter what will be the speciality, it requires a time-consuming, intense course of study and efforts beginning as far back as high school in order to become a well equipped engineer. Throughout the years, our government has increases its access to education and training especially on engineering field. We generate young professionals to enhance income generation capabilities, as well as life quality improvement of Malaysians. Nevertheless, the education and training system on engineering field has yet to be restructured, especially with greater private sector involvement in order to cater for the demand and needs of our local industries in their specified fields. Aspiring engineers should focus on developing different types of skills such as detail oriented, keen analytical skill, good communicator, able to work on a team, able to build and improve the way things work, or creative thinker. It is not easy to become a successful engineer in this world without any long journey of hard work. In Malaysia, there are a lot of successful engineer born in this country. Associate Professor Dr. Law Chung Lim is a lecture from The University of Nottingham. Associate Professor Dr. Law Chung Lim of the School of Chemical and Environmental Engineering at the Malaysia Campus was conferred the Young Engineer Award by the Institution of Engineers Malaysia (IEM). This award comes in recognition of Chung Lims involvement in various academic and research undertakings, as well as his societal and voluntary commitments and contributions [9]. Chung Lim has served the Institution of Engineers (IEM) since Jan 2004 and is actively involved in its activities. He has organised technical talks and technical visits for the Chemical Engineering Technical Division and has reported six events in the bulletin Jurutera over the years. Further to this, Chung Lim was a member in the sub-committee of Career and Guidance of Admission Practical Training Committee and IEM Computer Lab Project Committee in 2005. In addition, he served the 1st and 2nd Malaysian ChemECar Competition organising committee as a secretary, MC cum judge in 2004 and 2005. Besides, he also served as secretary cum treasurer and chemical risk and health assessor for the regional ChemECar competition which was held in KL in conjunction with the Asia Pacific Confederation on Chemical Engineering Conference, APPChE. Chung Lim also contributes to the reviewing of manuscripts submitted to the Jurnal IEM [9]. Over the years, Chung Lim has worked extensively on various research areas which has give a lot of important outcome in many aspects, ranging from research publication, equipment design, product development and many other researches. He innovatively modified a conventional fluidized bed dryer and proposed two modified fluidised bed dryers, viz. baffled fluidised bed dryer and two-stage cross flow fluidised bed dryer. The inventions won him a bronze and a gold medal in 2003 and 2005 respectively. Chung Lim obtained two e-Science research grants from the Ministry of Science, Technology and Innovation (MOSTI) and involved in three MOSTI grants which amount to over RM1.25 million. He has published more than seventy five papers including journal articles, handbook chapters, book chapters and review articles and conference papers. He has produced five equipment designs, fabricated and commissioned three prototypes of unit operation, conducting three product development projects, supervisin g seven postgraduates, received two award of excellence from the institution, and two awards of best paper [9]. As a researcher who is actively involved in drying and dehydration, Chung Lim receives requests to review manuscripts submitted to various journals, namely Drying technology, Canadian Journal of Chemical Engineering, Chemical Engineering Science, Jurnal of IEM, Pertanika and Jurnal Teknologi. Over the years, he has reviewed more than fifty five manuscripts and technical papers. Chung Lim received a certificate, medal and a prize award of RM500.00. Speaking after receiving the award, Chung Lim said, I shall continue to strive hard to remain worthy of this award. I shall uphold professionalism, make more contribution to promote engineering as a profession and conduct more impactful researches to the enrichment of knowledge [9]. CONCLUSION Nation building is a collective effort of all citizens. As an old saying goes: the youth are not only the leaders of tomorrow but also the partners of today. The Youth, as the energetic ambitious and highly capable people, have the responsibility, passion and power of being at the fore-front in developing the nation in a democratic and constructive way. Undoubtedly, Youth leadership is a significant element to ensure the concept of One Malaysia would not deviate from what had been agreed to by our forefathers. Also, Youth play a very important role to demonstrate their potential, motivation and passions of making a different in our community. The young generation, as tomorrows leaders; have to think together as one. The opportunity of improving our leadership skills is being given to us by taking part in civic and community activities. Youth leadership programmes will give emphasis on the role of youths in society and fostering national unity with a sense of common and shared destiny to develop the mutual trust and respect among different races in Malaysia at the young age and promote the well-being of the country. Moreover, Youth organisations are important and contribute to Malaysian nation-building and development because youth organisations have served as a training ground for many national leaders in Malaysian history. As empow erment emphasizes development of collective rather than individual goals, it will henceforth lead to capacity building and setting the agenda for changes for Malaysia. In an effort to attain developed nation status by the year 2020, the Malaysian government has made strategic thrusts for the development of youths by improving the access to education and training, inculcating the spirit of competitiveness among youths, strengthening the legal framework of youth development programs; increasing participation of youths in youth organizations, and promoting national unity and social integration. Most importantly, the essay would not bring any benefits if we did not know the roles of young engineers in building this nation. With the profession of many disciplines, engineers should not only develop their personal technical skill but also be creative thinker, good communicator and think positively to distribute to group success. In fact, youth leaders, as the powerful pressure groups and guardians of transparency, will enable themselves to query government policies and performance for corrective action to be taken for the development of a Malaysian Malaysia. According to Abdul Rahman Embong, Malaysians (especially with the emergence of a middle class) would like to have greater democracy and a stronger civil society. This is essential for youth organisations and their leaders to champion these new challenges to check and balance in all major issues, government policies and implementation, because youth comprises a significant proportion of the Malaysian population.

Sugar Factory Project

A PROJECT REPORT ON â€Å" STUDY OF EXCISE DUTY PAYMENT BY GABRIEL INDIA LTD. † AT [pic] -: Submitted By:- AVINASH CHANRDAKANT IGHE -: The Research Guide:- PRO:-D. D. WALKE -: Affiliated To :- University of Pune N. D. M. V. P. Samaj’s Nashik [pic] Institute of Management Research and Technology (IMRT) For The Academic Year 2008 -2009 PREFACE Indirect tax is the one of the most enormous source of fund collection of the Indian government which aids to development expenses and other aspects. Central excise is one aspects of fund/revenue collection. Features of indirect taxes. Government of India needs funds for various purposes like maintenance of law and order, defence, social /health services etc. Government obtains funds from various sources out of which one main source is taxation, Justice Holmes of US Supreme Court has long ago rightly said that tax is the price which we pay for a civilized society. -view echoed in Parshuram Pottery works ltd vs. ITO (1977) 106ITR 1(sc). Taxes are conventionally broadly classified as Direct taxes and indirect taxes. As the name suggest, direct taxes are paid directly and indirect taxes paid indirectly. In the case of indirect taxes, they are paid by one person, but he recovers the same from another person. Thus, the person who actually bears the tax burden pays it indirectly through some other person, Who practically, merely acts as colleting agent of course, he is liable if fails to collect and pay the taxes. Central excise is totally whit the manufacturing company, which company Produce or manufacture excisable goods as per Central Excise Act 1944. Excisable goods indicate which goods failing under Central Excise Act 1944, And it is also must be movable and marketable and must be produce or manufacture in India. Indirect tax structure on goods. †¢ Excise duty 14%, †¢ Education cess 2%, †¢ Secondary and higher secondary education cess 1%, †¢ Vat 12. 50%. Invoice must be have 4 copy 1) Original for buyer. 2) Duplicate for transporter. 3) Third for assesses. 4) Fourth acknowledgement copy. ACKNOWLEDGEMENT It gives me immense pleasure to present this project report on study of Excise Duty Paid out by GABRIEL INDIA LTD. In partial fulfillment of post-graduate course M. B. A. No work can be carried out without the help and guidance of various persons. I am happy to take this opportunity to impress my gratitude to those who have helped me in completing this project report. At the outset, I would like to thank Mr. Kadam Head of Dept. (Excise) of ‘GABRIEL INDIA LTD’ for their valuable advice and guidance during my project completion, also Mr. Doke for timely help concerning various aspects of project. I would be failing in my duty if I do not express my deep sense of gratitude to Prof. D. D. WALKE without his guidance. It wouldn’t have been possible for me to complete this project work. Lastly I would like to thank all professors and staff at I. M. R. T. , my friends and all those persons who contributed directly or indirectly for successful completion of this project. AVINASH C. IGHE DECLARATION I, Avinash Chandrakant Ighe, student of MBA studying in Institute of Management Research & Technology, Nashik solemnly declare that the project titled â€Å"STUTY OF EXCISE DUTY PAYMENT BY GABRIEL INDIA LTD. was carried out by me in partial fulfillment of the MBA program under University of Pune. This project was under taken as part of academic curriculum as per university rules and norms and by no commercial interest or motive. It is my original work and not submitted elsewhere for any other purpose earlier. PLACE: NASIK AVINASH C. IGHE DATE: INDEX |Chapter No. |Contents |Page No. | | 1 | |INTRODUCTION ABOUT THE STUDY | 1-8 | | |1. |Object of the project | 1 | | | 1. 2 |Selection of the Topic for study | 2 | | |1. 3 |Objective of the project | 3 | | |1. 4 |Research methodology | 4 | | | |Scope of the study | 5 | | |1. |Limitation of study | 6 | | |1. 7 |Revenue collection of major taxes in India | 7 | | |1. 8 |Budget changes 2008 | 8 | | | | | | | 2 | |PROFILE OF THE ORGANIZATION | 9-15 | | |2. |Introduction of the Company | 9 | | |2. 2 |Product Profile | 14 | | |2. 3 |Organizational structure | 15 | | | | | | | 3 | |ANALYSIS AND INTERPRETATION OF DATA | 16-53 | | | | | | | | | | | | | | | | | |DDDDDDDATADATA | | | |3. 1 |Topic under study | 16 | | |3. |Key analysis & Data presentation | 35 | | | | | | | 4 | |EXECUTIVE SUMMARY | 54-56 | | | | | | | 5 | |CONCLUSIONS & FINDING | 57-58 | | | | | | | 6 | |SUGGESTIONS & RECOMMENDATIONS | 59 | | | | | | | 7 | |APPENDICES | 60-61 | | |6. 1 |Bibliography | 60 | | |6. |Glossary | 61 | | | | | | 1. Object of the Project In Master in Business Administration, theoretical knowledge is not sufficient. Prac tical knowledge got by the project is very useful in our future. MBA has to play quit responsible role as a manager, so that practical knowledge is must for management student. During the project we come across different real life problems. This practical knowledge helps us in future to overcome such problems in the corporate world. The objectives of the project work are as follows: 1. To enable the MBA student to test their theoretical knowledge in practical. 2. To provide training to student by the organization, this is very useful in their future. 3. Preparation of project report is mandatory for every MBA student, that is why the primary objective of any project is fulfill the requirement of the syllabus with the grasping the knowledge. 1. 2Selection of the topic for study Topic selections the one of the important aspect of our project. As it decided the course of action, to be followed. The topic selected should be such that it helps in understanding the excise concept clearly, as was given the topic by the company itself. This topic given by project guide was â€Å"STUTY OF EXCISE DUTY PAYMENT BY GABRIEL INDIA LTD†. Covers all the things related to excise analysis provided by the company. 1. 3Objectives of the project 1. To study procedure of central excise registration. 2. To study E. R. 1 form of central excise. 3. To study applicability of the central excise. 4. To study journey of Cenvat credit. 5. To study process of Cenvat credit taken. 6. To study drawbacks of central excise. 1. 4RESEARCH METHODOLOGY Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying now research is done systematically. In that various steps, those are generally adopted by a researcher in studying his problem along with the logic behind them. Data collection is important step in any project and success of any project will be largely depend upon now much accurate you will be able to collect and how much time, money and effort will be required to collect that necessary data, this is also important step. Data collection plays an important role in research work. Without proper data available for analysis you cannot do the research work accurately. There are two types of data collection methods available. 1) Primary data: – The information about the Company is gathered from the discussion with the employees/staff. 2) Secondary data:- The secondary data collected – The balance sheets as on the date of 31st Dec 2007 for the period of 1st April 2007 to 31st Dec 2007 The methodology of this study has been adopted on the following basis: Study of various Journals, Notes & Books. †¢ Collection of Primary & Secondary data records of the organization. †¢ Analysis of the collected data for its application. 1. 5S cope of the project The excise is the important tax from indirect tax. This project covers all points about excise and also cenvat credit rules and conditions. The central excise law mainly comprise of Central Excise act 1944, Central Excise rules 2002, Cenvat Credit Rule 2004. This project also comprises central excise registration procedure, assessee profile, rules related with central excise, journey of cenvat credit rule, process of cenvat credit taken and drawbacks of central excise. Central excise is source of Indian Government from collection funds. 1. 6 LIMITATIONS OF THE STUDY †¢ Generally company does not allow outsiders to conduct any study or research work in company. Therefore, get the project done in company itself was very difficult. †¢ Due to confidentiality some important information, which are important for the project, could not be collected. †¢ Some of the information lack in accuracy, due to which approximate values were used for the analysis. Hence, the results also reveal approximate values. †¢ The project is based on theoretical guidelines and as per situations prevalent at the time of practical training. Hence, it may not be apply to different situations. †¢ The time span for the project was very short which was of 2 months, which itself acts as a major constraint. Moreover, studying the guidelines and applied it practically within such short time span was a task of great pressure. 1. 7 Revenue collection of major taxes in India [pic] Note:- (1) N. A – not available. (2) Figures in crores. 1. 8 Budget changes 2008. Budget 2007-08 and Finance Bill 2008 was presented before Parliament on 29-02-2008. The changes which are effective immediately or from 1-04-2008 have been discussed at relevant places. The statutory changes and changes in duty rates are summarized in fort pages. Highlights as follows:- †¢ General rate of basic duty reduced from 16% to 14% from1-3-2008. †¢ Rule 6(3) of cenvat credit rule recast to provide for proportionate credit in case where manufacturer is manufacturing both exempted and taxable goods and service provider is providing both taxable as well as exempted services. †¢ In case of deemed manufacturer, simple repacking will be ‘Manufacture’ 1-3-2008. Till now, labeling, re-labeling and also repacking was required. †¢ Service tax on GTA to be paid by cash only. Controversy relating to cenvat credit of outward freight continues. †¢ Strips of plastics for weaving fabric eligible for SSI exemption 1-4-2008. EOU have to pay duty equal to 50% of customs duty plus excise duty 1-3-2008. †¢ NCCD of 1% imposed on mobile phones but NCCD on PFY and pan masala not containing tobacco has been withdrawn. 2. 1 Introduction of the company Gabriel India sets up its facility in Parwanoo in 1978 in collabora tion with Federal Mogul, USA world leader in thin-walled, bimetal engine bearings, the Parwanoo plant is equipped with a fully integrated facility for the manufacture of a complete range of bimetal bearing, bushes, flanges and thrust washes; including manufacturing of powder metal and bimetal strips. In 2004, Gabriel has put up a new plant in Khandsa (Haryana) for anufacture of aluminum tin bearings. Anand Engine bearing division was emerged in 2007 from Gabriel India Ltd and is now called Anand Engine Component Ltd. Anand Engine Component Ltd is a leading suppler of Engine bearings to domestic OEMS and replacement market in the automotive industry as well as other segments such Railway, Marine and power generation. Its product also being exported to several oversea markets. Name of the company: – Gabriel India limited, Address of company: – 29th milestones, Pune-Nashik Highway, Village Kuruli, Tal: Khed, Dist. Pune -410501 (India) Tel. :+91-9922908401/2/3/4 Fax: +91-2 135-261200 www. anandgroupindia. com 1. Capital Employed – $ 43 Million 2. Net Fixed Assets – $ 31 Million 3. Major Products- Shock Absorbers, Strutsand Front Forks. Engine Bearings. 4. HQ Location- Delhi 5. Established – 1961 2. 1. 1Brief history of Gabriel:- 1997 : Started Plant for OE Passenger car shocks 1998 : HMI, Tata Motors & Ford India business started 1999 : Toyota Kirloskar business started (Qualis) 2000 : Acquired certification for QS 9000 by BVQI 2001 : HM business started (Lancer) 2003 : Acquired certification for ISO 14000 2003 : Acquired certification for OHSAS 18000 2003 : Maruti business started 003 : Acquired certification for TS 16949 by BVQI 2003 : Acquired certification for Ford. 2004 : GMI business started. 2. 1. 2 Mission of the Company:- The mission statement of Gabriel is:- â€Å"To champion and accelerate learning by providing world-class technical and managerial solution and act as the hub for transfer of learning throughout the group. † Basic philosophy behind that i s â€Å"Increase of value contribution & customer satisfaction† which means elimination of non value added activities and emphasis on value stream way of thinking rather than the traditional functional way of thinking. 2. 1. 3 Logo of the Company:- pic] 2. 1. 4 Location of the production: – Company has six branches in India. It is as follows. †¢ Pune. †¢ Dewas. †¢ Hosur. †¢ Parwnaoo (Himachal Pradesh). †¢ Nashik. †¢ Gurgoan. 2. 1. 5 Production capacity:- 1) Struts 1. 5 Million units per annum. 2) Front Forks 1. 5 Million units per annum. 3) Shock Absorbers 10. 0 Million unit per annum. 2. 1. 6 Certification of the Company:- 1:-ISO9002 – Nashik, Hosur, Parwanoo. 2:-ISO14001 – Hosur, Dewas, Pune. 3:-QS9000 – Hosur, Dewas, Nashik. 4:-ISO16949 – Hosur, Pune, Dewas. 5:-OHSAS 18001 – Hosur, Dewas, Pune. 2. 1. 7 Ride control global product range. |Twin tube shocks (gas). | |Twin tube shocks (non-gas). |Mono tube shocks. | |Spring seat shocks (semi-strut). | |Cab suspension damper. | |Steering damper. | |Strut cartridges. | |McPherson struts. | |Self leveling shocks. | |Active suspension. | |Suspension corner module. | 2. 1. 7 Gabriel Pune [pic] 2. 2Product profile:- [pic] [pic] 2. 3 Organizational chart :- Deep C Anand Foundation Mr. S. G. Kulkarni (D. G. M finance) Mr. A. Vispute Mr. S. Das (Sr. manager) Manager) Mr. M. Dalal Mr. S. Agnihotri Mr. A. Mane Mr. T. J. Kadam (A. M) (A. M) (A. M) (A. M) Miss. Harivanda Mr. A. P. Doke (Asst. ) (Officer) Mr. R. M. Wadekar Mr. M. D. Pardeshi 3. 1 TOPIC UNDER STUDY 3. 1. 1 Theoretical background :- 1) Journey of Central Excise. 2) Central Excise Act 1944. 3) Central Excise Rules 2002. 4) Cenvat Credit Rule 2004. ) Registration procedure of central excise. 6) E. R. 1 form, analysis and format. 3. 1. 2 Journey of Central Excise. Available historical evidence on the organized forms of commodity taxation shows that duty on two commodities – salt and liquor – was levied during flourishing Mauryan period (5% to 10%). During Mughal period, tax on manufactured goods was extended to indigo, cotton, soap, edible oil, tobacco and salt. Early British Rule imposed duty on dairy products, handlooms, leather products. Iron and steel. Excise, as we understand it today, was 1st introduced on cotton yarn in 1894, mainly to check exports of Indian textiles to USA, China, Japan and Hong Kong. Subsequently, excise net was widened and it was imposed on motor spirit (1917), kerosene (1922), Silver (1930), Sugar and matches (1934). More items were covered under excise in 1943. Development of Excise Law Initially, separate Act used to be introduced for each commodity. Thus, by 1944, there were 16 each enactment. All these were consolidated and a consolidating Act was passed in 1944(which is still in force). The consolidated act included various items called Tariff Items (TI) – like Sugar (TI-1), Coffee (TI-2), Tea (TI-3) etc. More and more items were added each year, usually at the time of Budget. Finally, residual item – called Not Elsewhere specified (NES) (TI-68)-was introduced w. e. f. 1-3-1975. Thus, effectively, all items were covered. Duty on TI – 68 was 1% in the beginning, which was raised in stages to 12%. Central Excise Tariff :- Since tariff item were added from time to time, the arrangement and sequence of each was not tariff item was not scientific and logical as items were added in the Schedule to central Excise Act from time to time. In the meanwhile, International Standards were developed for classification of goods and Customs Tariff in India was revised to fall in line with International Standards for classification. Excise tariff was also revised and Central Excise Tariff Act, 1985 was brought into effect from 1-3-1986. Thus, only 15 commodities were covered in 1944, against over 1,300 commodities covered in 1994. MODVAT in 1986 :– Modvat was introduced w. e. f. 1-3-1986, to avoid cascading effect of taxation. Coverage of MODVAT was increased over a period of time and now most of the inputs (except a few), are eligible. MODVAT was extended to capital goods and petroleum products in March 94. (MODVAT was renamed as CENVAT w. e. f. 1-4-2000) Other landmarks – until 1938, excise duties were administered by provincial (Now called State) Governments. Central Excise and Salt Revenue Department was established in 1938. Changes in recent times:- Some important changes in recent times are as follows: 1-4-2000 – Basic Excise Duty will be 16%on almost on all commodities. Branded goods manufactured by SSI in rural area will be exempted from duty. 1-4-2000 – Modvat was renamed as Cenvat. New Cenvat rules 57 AK introduced Duty payment on fortnightly basic, instead of at every time before clearance. 1-7-2000 – All statutory records abolished. Department will rely on private records of assessee. New Valuation section 4 and new Valuation rules introduced. 1-7-2001- New Central Excise Rules made effective and earlier Central Excise Rules, 1944 scrapped. Many procedural simplifications made. September, 2001 – CBE&C released ‘New Central Excise Manual, 2001’ and ‘Custom Manual, 2001’. Basically, these are consolidation of many previous trade notices, public notices and CBE&C circulars. In addition, general information about customs and excise law is contained in these manual. 9-7-2004 – Introduction of Education Cess @ 2% of duty or tax, Textile Articles practically out of excise net. 10-9-2004 – Integration of Cenvat Credit of Excise duty on goods and service tax. Credit is inter-changeable. 1-1-2005 – Service tax on Goods Transport Agency. Tax payable by consignor/consignee paying freight. 28-2-2005 – Central Excise Tariff converted from 6 digits to 8 digits. 1-3-2006 – AED (GSI) fully exempted. SED merged with basic excise duty. 13-7-2006 – department can provisionally attach property of a person to whom show cause notice has been served (section 11DDA of CEA). Basic procedure in Central Excise As per section 6 of CEA, registration is required to be obtained by (a) every manufacturer or producer of excisable goods that is goods specified in first and second schedule to central excise tariff act (b) wholesale purchase or sale or storage of any specified goods included in first or second schedule of central excise tariff act. As per rule 9 of Central Excise Rules, every person who produces, manufacturers, carries on trade, holds private store room or warehouses or other wise uses excisable goods shall get registered. The rule also otherwise Board to issue notification (a) specifying conditions and procedures for registration and (b) grating exemption to person or class of person from provisions registration. Registration is compulsory as both section 6 of CEA and rule 9(1). It has been clarified that registration granted in earlier old rule 174 will be valued under new rules. 3. 1. 3 Central Excise act 1944 (sec 40) This is the first act which gave the power to excise officer for provision of collecting the excise or taking action of arrest, penalty, Valuation. Nature of Excise Act The basic condition for levy of Excise Duty:- 1) The duty is on goods. 2) The goods must be excisable. 3) The goods must be produced or manufactured with aid of power. 4) Such production must be in India. 5) Goods must be movable and marketable. 3. 1. 4 Central Excise Rules 2002 Rule 1:-Short title, extent and commencement. Rule 2: – Definition of. Act †¢ Assessment †¢ Assesses †¢ Board †¢ Duty †¢ Notification †¢ Tariff act †¢ Warehouse Rule 3: – Appointment and jurisdiction of central excise officer. Rule 4: – Duty payable on removal. (Molasses) Every person who produce or manufacture any excisable goods, or who store s uch goods in a warehouse, shall pay the duty livable on such goods in the manner provided in the rule 8 under any law, and no excisable goods, on which any duty is payable, shall be removed without payment of duty from any place, where they are produce or manufactured, or from a warehouse, unless otherwise provided. Rule 5: – Date for determination of duty and tariff valuation. If any excisable are used within the factory, the date of removable of such shall mean the date on which the goods are issued for such use. Rule 6: – Assessment of duty. The assessee shall himself assess the duty payable on any excisable goods. Rule 7: – Provisional assessment. The Assistant Commissioner of central excise or the deputy commissioner of central excise, as may be required for finalizing the assessment, the is available, but within a period not exceeding six months from the date of the communication of the order issued under sub rule (1). Rule 8: – Manner of payment. The duty on the goods removed from the factory or the warehouse during a month shall be paid. Rule 9:-Registration. Any person who produces, manufacture, carries on trade, holds privet store-room or warehouse or otherwise uses excisable goods, shall get registered. Rule 10:-Daily stock account. All such records shall be preserved for a period of five years Immediately after the financial year to which such records pertain. Rule 11:-Goods to be removed on invoice. No excisable goods shall be removed from a factory or a warehouse except under an invoice singed by the owner of the factory or his authorized agent and in the case of cigarettes, each such invoice shall also be countersigned by the inspector of central or the superintendent of central excise before the cigarettes are removed from the factory. Rule 12:-Return to filing Provided that an assesses manufacturing pan masala failing under tariff item 21 06 90 20 or pan masala containing tobacco failing under tariff item 24 09 99 90, shall also file, along with the return ,for the month which the said return relates, a statement summarizing Rule 13: – Export without payment of duty. †¢ Any excisable goods may be exported without payment of duty from a factory of the producer or the manufacture or any other premises, as may be approved by the commissioner. †¢ Any material may be removed without payment of duty from a factory of the producer or the any other premises, for use in the manufacture or processing of the goods which are exported, as may be approved by the commissioner. †¢ The export under sub rule (1) or sub rule (2) shall be subject to such conditions, safeguards and procedure as may be specified by notification by the Board. Rule 14: – Warehousing provision. The central government may be notification, extend the fac ility of removal of any excisable goods from the factory of production to a warehouses to another warehouses without of payment duty. †¢ The facility under sub-rule (1) shall be available subject to such condition, including penalty and interest, limitation with respect to the period for which the goods may remain in the warehouse and safeguard and procedure including in the related to the dispatch, movement, receipt, accountable and disposal of such goods may be specified by the Board. 3. 1. 5 Cenvat credit rule 2004. (rule 16) Dated 10/9/2004 amended. Government appointed Dr. Vijay Kelkar for recommending tax reforms and as part of the report. Union budget 2003-2004 clearly recommendation of Kelkar committee have been accepted. A new rule 12 A was inserted vide notification no: 19/2006, dated 30/09/2006. which deals with the procedure and facilities for large tax payer, particularly with reference to the following aspects. 1) Removal of input or capital goods by a large tax payer through a transfer challan/invoice. 2) Transfer of cenvat available with one of the units of the large taxpayer to his other registered premises through a transfer challan. Cenvat credit rule deals with as follows goods, Rules 1 :- Capital goods †¢ All goods failing under chapter 82,84,85,90 heading no 68. 02. †¢ Pollution control equipment. †¢ Component, spares and accessories of the goods. Specified (1) (2) above. †¢ Moulds and dies, jigs and fixtures. Refractory and material. †¢ Tubes and pipes and fitting. †¢ Storage tank. Note:-office equipment and appliance in an industry and hence credit cannot be valid. Rules 2 :- Inputs All goods and raw material Except light diesel oil, high speed diesel oil and motor spirit, commonly known as petrol and motor vehicles, used for providing any output service. Rule: – 3 A manufacturer or producer of final products or a provider of taxable service shall be allowed to take credit. †¢ The duty of excise of specified in the first schedule to the Excise Tariff Act, livable under the excise act. †¢ The duty of excise specified in the second schedule to the Excise Tariff Act. The education cess on excisable goods under section 91. Rule:-4 Condition for allowing CENVAT credit. The cenvat credit in respect of inputs may be taken immediately on receipt of the inputs in the factory of the manufacturer or in the premises of the provider of output service. Rule: – 5 Refund of CENVAT credit to units in specified areas. For the purposes of this rule, â€Å"duty† means the duties specified in the sub rule (1) of rule 3 of these rules. Rule: – 6 Obligation of manufacturer of dutiable and exempted goods and provider of taxable and exempted services. Rule: – 7 Distribution of credit on inputs by the office or any other premise of output service provider. A provider of output services shall be allowed to take credit on inputs and capital goods received on the basis of an invoice or a bill or a bill a challan issued by an office or premises of the said provider of output service, which receives invoice, issued in terms of the provision of the central excise rules, 2002, towards the purchase of inputs and capital goods. Rule: – 8 Storage of inputs outside the factory of the manufacturing. Rule: – 9 Documents and accounts. (1) An invoice. (2) A supplementary invoice. (3) A bill of entry. (4) A certificate issued by an appraiser of customs in respect of goods imported through a Foreign Post office. Rule: -10 Transfer of cenvat credit. Rule: – 11 Special dispensation in respect of inputs manufactured in factories located in specified areas of North East region, Kutch district of Gujarat, state of Jammu and Kashmir and state of Sikkim. Rule: – 12 Power of central government to notify goods for deemed cenvat credit. Rule: – 13 Recovery of cenvat credit wrongly taken or erroneously refunded. Where the cenvat credit has been taken or utilize wrongly or has been erroneously refunded, the same along with interest shall be recovered from the manufacturer or the provider of the output service and the provision of section 11A B of the excise act or section 73 and 75 of the finance act. Rule: – 14 Supplementary provision. Any notification, circular, instruction standing order trade notice or other order trade issued under the Cenvat Credit Rule 2002, by the Central Government, the central board of excise and customs, the chief commissioner of central excise, and in fore of the commencement of these rules, shall, to the extent it is relevant and consistent with these rules, be deemed to be valid and issued under the corresponding provision of these rules. 6. Registration procedure of Central Excise As per section 6 of CEA 1944, Registration is required to be obtained by (a) every manufacturer or producer of excisable goods that is goods specified in first and second schedule to central excise tariff act b(b) wholesale purchase or sale or storage of any specified goods included in first or second schedule of central excise tariff act. As per rule 9 of central excise rules, every person who produces, manufacturers, carries on trade, holds privet store room or warehouses or other wise uses excisable goods shall get registered. The rule also otherwise Board to issue notification (a) specifying conditions and procedures for registration and (b) grating exemption to person or class of person from provisions registration. Registration is compulsory as both section 6 of CEA and rule 9 (1) use the world shall. It has been clarified that registration granted in earlier old rule 174 will be valued under new rules. 1. Application for registration:- Before starting production of excisable goods or dealership for the purpose of issuing invoice to pass Cenvat credit, registration should be obtained. The Application Forms specified for this purpose are given in Annexure (Form A1 for all persons except certain textile processors/cheroot manufacturers). Separate Forms A2 is prescribed for registration of Power loom Weavers/Hand processors/ dealers of yarns and fabrics and manufacturers of readymade garments. Form A3 is the application for registration specified for manufacturers of hand – rolled cheroots tobacco falling under sub – heading 2402. 00 of Central Excise Tariff. The application should be submitted in duplicate to the jurisdictional Deputy/ Asst. Commissioner of Central Excise. An attested copy of permanent Account Number (PAN) allotted by Income Tax Department should be enclosed with the application. Under the New Central Excise Registration Procedure for Power loom Weavers/Hand processors/ dealers of yarns and fabrics and manufacturers of readymade garments, the C. B. E. and C. through Circular No. 708/24/2003- CX, dated 23-4-2003[2003(153) E. L. T(T63)], asked departmental officers to issue registrations even if PAN is not available. 2. Registrations Certificate:- The Registrations Certificate in prescribed format [Form RC-Annexure-2] will be issued within seven days. Normally, RC can be obtained across the table on the date of application itself. Verification of the premises will be made later. 3. Permanent nature of RC:- Registrations Certificate, once issued, is permanent except when it is suspended or revoked. RC is not required to be renewed. 4. No fee for Registration:- Registrations Certificate is issued free of charge and there is no fee prescribed for the same. 5. Same form for intimation of changes:- The same application form is to be used for intimating any change in the information furnished originally at the time of applying for Registrations Certificate. Manufacture of new or additional products need not be intimated. 6. Transfer of Business:- Excise registration is premises-specific. But it is non-transferable and hence, when the business is transferred to another person by way of sale or lease, the taking over the business (transferee) should take fresh registration in this name. 7. Change in the Constitution:- If the entity holding Central Excise Registration is a firm or company or association of persons, any change in the constitutions should be intimated to the concerned Central Excise Officer within 30 days. 8. De- Registration:- If the business is not carried, Registrations Certificate should be surrendered to the superintendent of Central Excise. A declaration specified for this purpose [Annexure-3] should be given while surrendering RC. 9. Quoting RC Number:- The PAN- based Excise registration number is required to be printed on top of all Central Excise invoices, duty challans, PLA & other Forms /documents. Textile units coming into Excise fold for the first time can clear their goods and pay duty pending grand of registration. 10. Revocation or suspension of registration:- For contravention of provisions of Central Excise Act, 1944/ Central Excise Rules, 2002 and other specified offences, RC can be suspended or revoked by the deputy/Assistant Commissioner. As there are separate penal provisions to take care of various infractions, this is seldom resorted to. 3. 1. 7 Analysis and detail of Excise Return Form: – Excise Return (E. R. -1) form :- Excise Return (E. R. -1) form is the most important document of excise return. Rule 12 of the Central Excise Rules, 2002 and rule 9(7) of CENVAT Rules, 2004. Each E. R. 1 form have two copies one is original and other is duplicate this document use for return of excisable goods and availment of cenvat credit for the month. Includes details of the manufacture, clearance and duty payable also detail of goods item code, registration number, name of the company, address, quantity manufactured, and quantity cleared assessable value etc. E. R. 1 form has details about basic excise duty 14%, education cess 2% and secondary and higher education cess. Attached all detailed value, item code number, description and also detail of cenvat credit availment and utilized. E. R. 1 form has details about cenvat input goods, cenvat capital goods, and cenvat service tax. The following points are include in cenvat credit availment and utilized. †¢ Credit on manufacture invoice. †¢ Credit taken on Dealers invoices. †¢ Credit taken on capital goods. †¢ Credit taken on input services. †¢ Credit taken on imported capital goods. Credits taken from inter unit transfer of credit by a large taxpayer. E. R. 1 form include Self assessment memorandum, acknowledgment and lastly authorized signature and name. 3 . 1. 8 CENVAT Credit Process:- (1) Cenvat credit is allowed to offset duty liability on final product services. Hence, as per rule, Cenvat credit is not allowed on quantity of inputs and input service used exclusively in the manufacturer of exempted goods/ services. If cenvat credit is availed on inputs and input services used in the manufacture or rendering of both dutiable and exempted goods or services, 10% of total price (excluding sales tax and other taxes if any paid) shall be paid. The output service provider shall utilize credit only credit only to the extent of an amount not exceeding 20% of the amount of service tax payable or taxable output service. Now sub-rule (3A) in Rule 6 Vide Notification No. 10/2008-C. E. (N. T. ), dated 1-3-2008. (w. e. f. 1-4-2008) provides for reversal of credit attributable to the input and input services used in the manufacture of exempted goods as per the prescribed in the said rule. (2) The condition of 10% payment is not applicable if separate accounts of receipt, consumption and inventory of such inputs or input service are maintained cenvat credit is taken on that quantity of inputs and input services used in the manufacture of dutiable goods/ taxable service only. In respect of certain specified services, such restriction doses not operate. Thus credit is allowed on the service tax pay without the requirement of maintaining separate accounts to consulting engineer, architect, and interior decorator, management consultant, real estate agent, commissioning and instillation service, technical inspection and certification service, commercial or industrial construction service security, security agency, scientific or technical consultancy, banking and financial services, life insurance services, technical testing and analysis service, maintenance or repair service and intellectual property service, if these or not used exclusively for providing exempted output services. In the case of general insurance service, when both taxable and exempted services are provided, an optional scheme, utilize Cenvat credit attributable to inputs/ input services used in providing taxable services, has been provided. (3) For manufactured of certain specified exempted goods manufacturer shall pay an amount equivalent to Cenvat credit attributable to inputs and input services used in or in relation to manufacture of such final products. These products are: A – Goods falling within heading No. 2207 of the First Schedule to the Tariff Act; (Ethyl alcohol and other spirits, denatured, of any strength); B – Low sulphur Heavy Stock (LSHS) used in the generation of electricity; C – Naphtha (RN) used in the manufacture of fertilizer; D -. Newsprint, in rolls and sheets, falling within heading No 48. 1 of Central excise tariff; E – Final products failing within chapters 50 to 63 Central excise tariff; F – Naphtha (RN) furnace oil used for gener ation of electricity; G – Goods supplied to defense projects or to the Ministry of Defense for official purposes, under any of the specified notifications; H – Liquefied Petroleum Gases (LPG) falling within item 27111200, 2711300 and 27111900 of the said First Schedule; I – Kerosene for ultimate sale through Public Distribution System. If the above producer is not followed the assessee will be liable not only for recovery under Rule 14 of Cenvat Credit Rule, 2004, but also for interest penalty. (4) Amount of 8% paid (now 10% under Rule 6) while clearing non-dutiable goods and realized from customers was held as not recoverable under section 11D of Central Excise Act, 1944 – Unison Metals Ltd. V. commissioner, 2006 (204) E. L. T. 323(Tri. -LB). But if the amount was collected in respect of dutiable goods, the same Larger Bench judgment says, real identity of the amount collected is not relevant for section 11D; whether the collection ‘represented duty’ of excise alone is relevant. (5) As per new condition â€Å"(d)† in Rule 6(3), the output service provider in the case of general insurance service has to intimate the option in writing to utilize Cenvat attributable to inputs and input services in providing taxable output services to the Range Superintendent, giving prescribed details. The option once exercised cannot be withdrawn during the remaining part of the financial year. (6) Credit is not admissible on capital goods used exclusively in manufacture of exempted goods/rendering of exempted services. 7) Under Rule 6 (3), no distinction is to be made between intended final product and unintended emergency of by – product – 2007 (208) E. L. T. 25(Tri. -LB) – Rallies India Ltd. v. CC E. (8) The substantive provisions of Rule 6 as contain in sub-rule (1),(2) and (3) shall not apply for exempted goods cleared either to :- ? SEZ Unit, ? 100% EOU, ? EHTP,STP unit, ? United Nations or an International Organization for their official use or supplied to projects listed in Notification No. 108/95 – C. E. , or ? For export under bond under Rule 19 of the Central Excise Rules, 2002. [ C. B. E. & C. circular No. 785/18/2004 – CX. , dated 17-5-2004 – 2004 (167) E. L. T. T35] ? Gold or Silver arising in the course of manufacture of copper or zinc by smelting, or, All goods which are exempt from the basic duties of Customs and the additional duty (C. V. D. ) when imported into India and supplied against International competitive bidding in terms of Notification No. 6/2006 – C. E. 2. KEY ANALYSIS & DATA PRESENTATION 3. 2. 1 EXCISE DATA OF THE COMPANY :- Financial highlight of the period 1st April 2004 to 31st March 2008 A. Value of clearance goods. |S. R. |Particulars |2004 – 2005 |2005 – 2006 |2006 – 2007 |2007 – 2008 | |1 |Domestic clearance |774200060 |1001839000 |1024535335. 87 |761355812. 0 | |2 |Scrap |2990434 |4460621 |4406276 |3947935 | | | | | | | | |3 |Export clearance |11270 |2740620 |5150444 |1958831 | |4 |Other |26581926 |29447903 |8895151. 08 |00. 00 | |5 |Total clearance |803783690 |103783690 |1042987207. 15 |767262578. 50 | B. Central excise duty. |S. R. Particulars |2004 – 2005 |2005 – 2006 |20 06 – 2007 |2007 – 2008 | |1 |Payment in PLA |48740016 |53681491 |41367098 |26186202 | | | | | | | | |2 |Payment through cenvat credit |90119634 |112750237 |169196919 |100193615 | | | | | | | | | | | | | | | |3 | Total |138859650 |166431728 |210564017 |126379817 | | | | | | | | | | | | | | | C. Cenvat credit taken. |S. R | Particulars |2004 – 2005 |2005 – 2006 |2006 – 2007 |2007 – 2008 | |1 |On capital goods |4958440 |4773122 |8147200 |7764147 | | | | | | | | |2 |On input goods |87752967 |109226355 |153488966 |86673644 | | | | | | | | |3 |On input services |165307 |311808 |4044501 |3008152 | | | | | | | | | | | | | | |4 | Total |91776714 |114311285 |165680667 |97445943 | | | | | | | | | | | | | | | Passenger cars in India- Share of Business The following chart shows market share of Gabriel India ltd. Conclusion:- The above pie chart shows Gabriel is the enormous producer in the India which produces automotive components. Gabriel covered about 63%production and other companies covered only 37%. It is indicating Gabriel very important company for the Indian automobile sector. Central excise paid by Gabriel: (Payment in PLA, payment through cenvat credit) The following chart shows payment through personal ledger account and cenvat credit. Conclusion:- The above chart shows central excise payment through personal ledger account and cenvat credit. Cenvat credit is the most important element of excise. As per above chart company paid continuously excise from personal ledger account and continuously growth in payment of duty. Total excise payment of Gabriel (from 2001 to 2008) The following pie chart shows excise payment of Gabriel India ltd. ll payment shows in parentage from 2001 – 02 to 2007 – 08 [pic] Conclusion :- The above chart shows every year increase the total value of excise clearance, that means Gabriel have incessantly growth and also paid the duty regularly. Cenvat credit taken :- The following bar graph shows cenvat credit taken by Gabriel India ltd. The following value shows Capital goods, Input goods and Input Services. [pic] Conclusion :- The above hart shows value of Capital goods, Input goods and Input Services in graphically. As per above chart input goods is one most important goods for cenvat credit and large commitment for cenvat credit. Capital goods and input services covered very small area of cenvat credit. | |[See rule 12 of the Central Excise Rules, 2002 and rule 9 (7) of CENVAT Credit Rules, 2004] | |   |   |   |   | |Large Taxpayer unit opted for (Name of City) |   | |   | |   |   |   |   |   | |   |   |   |   |   |   | |Name of the assessee | |   | 29-Mile Stone Pune – Nasik Highway |   | |   |   | |   |Village Kuruli, Pune-410501 |   | |  3. Details of the manufacture, clearance and duty payable: |   | |   |   |   |   |   | |1 |Motor Vehicle parts & Accessories : Shock |8708. 00 | | 14 % | | |Absorber & Struts / Kits/Tube | | | | | | | |- | | |2 |Tools & Dies |8207. 00 | – |14 % | |3 |Waste & Scrap of Steel |7204. 90 | – |14 % | 2. List of the principal inputs and capital goods used by the assessee. A) Inputs :- 1) MS Steel Tubes 2) Bright Bar 3) Sintered parts. B) Capital Goods: – As per Annex- G. 4. Brief details of the revenue for the list three years in the Performa given below. |Year. |Total duty paid |Total duty paid through CENVAAT | Total duty | | |PLA |Inputs Cap. Goods | | | | | |payment | | |(In Rs. ) |(In Rs. ) | | | | | |(In Rs. | | | | Inputs /Cap. Goods | | |2002-2003 |28871497 |42919868 / 3224062 | 75015427 | |2003-2004 |39091938 | 61721263 / | 104876428 | | | |4063257 | | |2004-2005 |48740016 | 86010192 / 3369064 | 138119272 | C. SUMMARY OF AUDIT RESULTS Date of preparation 22. 09. 2002 W/P No_____________ Provide an outline of all objections , which involve short/non levy/collection of Duty, amount (say under Sec. 1D), irregular availment / utilization of credit, Irregular payment of refund and non -payment of interest due. Details of objection Of technical /procedural in nature without involving revenue / credit / interest /amounts should also be mentio ned . Indicate whether the assessee has agreed to the objection and if so , has made spot payment (if so details thereof). D. PRELIMINARY OR DISK REVIEW: Date of preparationW/P No_____________ 1. Give reasons for selection of the unit for audit this time (as informed by Planning Cell) The Company has paid Central Excise Duty between 1 to 2 crores through PLA for the last three years; therefore according to the CBEC letter F. No. 598/35/2001-CX DT. 09. 11. 2001, the company has been selected for EA-2000 Audit, under new standard audit programmer 2. The auditor should check whether the Assessee Master File (refer to in Annexure A and B of New SAP) is available in IAD and whether the same is complete. If not the auditor should complete the same as for as possible from the information available in the office. Go through the information available in Assessee Master File. Identify and mention (with justifications), the areas or issues those merit verification during the conduct of audit (refer Para 3. 4. 2 of New SAP) No Assessee Master File has been maintained in IAD. However, now it is being prepared. (i) Obtain and study other documents illustrated in para 3. 4. 2 and Annexure G of New SAP and conduct examination as illustrated in Annexure D of New SAP. List Out the documents studied. 1) Balance Sheet 2) Clearances for last three years 3) Classification list 4) Modvat Declaration (ii) Identify and mention (with justifications), the areas or issues those merit Verification during the conduct of audit (refer para 3. 4. 2 of New SAP). In the balance sheet for the year 2003-04 it is observe that the company has shown Other income Rs. 50,163,700/- the detail of the same are required to be verified (See Annexure â€Å"A†) 3. Work out sum of the important financial ratios as mentioned in para 3. 4. 3 and Annexure C of New SAP. Mention the important indicators which require detailed Verification during the conduct of audit. From the balance sheet for the year 2000-01 & 2001-02 it is observed that the company have not taken any term loan from bank but during the year 1996-97 the company has taken term loan from ICICI, SBI Patiyala, Deutche bank for installation an of plant as well as purchase of assets. Further the company has not taken major advances from their customers. 4. Mention charges in the law and rates of duty pertaining to the products manufactured and inputs since previous audit. There is no change in rates of duty for products manufactured and inputs since last audit. 5. Mention details of Anti-evasion cases booked in recent past or are in progress and Past audit objections, which have not been settled so far by way of assessee acceptance, Adjudication, appeals etc. No anti-evasion cases booked in recent or past, Audit objections are pending related to service tax on Tech. know how and clearance to Sister Unit, Non payment of interest on rate escalation charges 6. Observation of the Auditor on any other issue emerging during Desk Review. E. GATHERING AND DOCUMENTIING SYSTEMS INFORMATION INTERVIEWS Date of preparation: 16. 09. 2 to 18. 09. 02W/P No_____________ Person (s) Interviewed, their designation and dates of interview. |Person |Designation |Date of interview | |Mr. Sanjay Agrawal |Sr. Manager, Finance | | |Mr. B. Rao |Sr. Manager Production | | Whether the assessee’s as submitted list of all documents maintained in respect of items mentioned und er Para 3. 4. 7 of New SAP. Yes the assessee has submitted the list of all documents i. e. Trial balance, Balance Sheet, profit & loss account, Sales tax returns, Income tax returns, Purchase & Sales ledger Give the gist of interviews especially in respect of i) related ventures , business with these ventures and annual volume of such Transactions, ii) relationships with the unit and its owners/shareholders , iii) the head office /registered office of the unit , location of its operations and location of its accounting records Head Office/Factory: Kuruli, Pune- Nasik Highway, Tal -Khed, Dist-Pune. iv) whether Company is an ancillary unit or independent unit of productions: It is an independent Unit. v) Any organizational or systems changes that has occurred since last audit CENVAT TO PLA RATIO (in 000) Year |PLA |CENVAT |Ratio | |2003-04 |39092 |65785 |37:63 | |2004-05 |4874 |89379 |35:66 | Excise Duty to Turnover Ratio (in 000) |Year |Excise duty |Turnover |Ratio | |2003-04 |104877 | | % | |2004-05 |138119 | | % | AUDIT PLAN: (Please see para 3,4,22 to 3,4,24 and Annexure J of NEW SAP) Date of preparation 14. 01. 2006 W/P No_____________ Audit Plan approved by___________ ) The Audit Plan must be based on the issues identified in the previous stops as to be verified during the conduct of audit and must be specific in the following format(also given in Annexure J of New SAP) |Srno |Subject No |Specific issue |Source Document |Field Document |Coverage Period |Selection |Verification | | | | | | | |Criteria |Paper No | |1 |Capital goods |Credit availed on |1. Invoice |1)purchase register|December, |Company | 1 | | | |capital goods & | |/ |2001. |Availed | | | | |installation |2. RT 12 |order | |Credit in | | | | | | | | |Capital goods of | | | | | |3. Balnce |2) Asset | |Rs. lakhs for | | | | | |sheet |Register, | |the month of Dec. | | | | | | | | |2001. | | | | | |4. Delivery |3)Installatn | | | | | | | |Challan |certificate | | | | | | | | | | | | | | | | |5. Cenvat A/c |4)Gate | | | | | | | |Register. |register | | | | | | | | | | | | | | | | | |5) Issue slip | | | | | | | | | | | | | |2 |Credit on input|Credit availed on |1). Export |1). Purchase |November, 2001. |Company has |2 | | | |inputs of |Invoices |Register, | |availed CENVAT | | | | |utilization |2). RT 12 |2) Purchase | |Credit of | | | | | |3). Balance |order, | |Rs. 62 lakhs | | | | | |sheet |3) Gate | |On input for the| | | | | |4). CENVAT A/c |register, | |month of Nov. | | | | | |register |4). Issue slip | |2001 and March | | | | | | |5) Stock | |2002 | | | | | | |statement. | | | | |3 |Export |Export under bond |1). RT 12 |1). Purchase order,|August, 2001, |Company has | 3 | | | |/ rebate |2). ARE I |2).. Shipping | |exported | | | | | |3) Invoice |bill | |excisable product| | | | | |4). UT1. |3).. Delivery | |under UT | | | | | |5) RG1 |challan | |amounting to Rs, | | | | | | |4). Packing slip, | |30012993 | | | | | | |5). Proof of | | | | | | | | |export, | | | | | | | | |6) Sales register. | | | | |4 |Waste and scrap|Clearance of steel|1). RT 12 |1). Balance sheet. |March 2002 |Company has | 4 | | |of steel |scrap |2). Invoice, |2). Sales register,| |cleared maximum | | | | | |3). Delivery |3).. Tender copy, | |steel scrap in | | | | | |challan, |4). Weight | |March 2002 | | | | | |4). RG1 |slip, | | | | | | | |5) Prodn. Clearance |5) Gate register | | | | | | | |Statement for | | | | | | | | |2001-02 | | | | | |5 |Consulting |Expenditure on |1). Agreement |1). RBI Permission |1997-98 |1997-98 onwards | 5 | | |Engineer |technical know-how|2). Balance |2). Party |Onwards |to August 2002 | | | | |i. e. |Sheet |Ledger, | | | | | | |Consulting | |3) Payment | | | | | | |Engineer | |particular | | | | EXECUTIVE SUMMARY The project titled as â€Å"STUTY OF EXCISE DUTY PAYMENT BY GABRIEL INDIA LTD† Was done at Gabriel India Ltd Pune. Indirect tax is the one of the most enormous source of fund collection of the Indian government which aids to development expenses and other aspects. Central excise is one aspects of fund/revenue collection. Selection of the topic is one of the important aspects of our project. As it decided the course of action, to be followed. The topic selected should be such that it helps in understanding the excise concept clearly, as was given the topic by the company itself. The project is based on the Total excise paid by company also its registration procedure, cenvat credit taken, E. R. 1 form and various rules. The objectives of this project was – 1) To study procedure of central excise registration. 2) To study E. R. 1 form of central excise. ) To study various rule of the central excise. 4) To study journey of Cenvat credit. 5) To study process of Cenvat credit taken. 6) To the study drawbacks of central excise. The central excise tax one of the most important aspects. Every manuf act

Negative Effects Of Imperialism - 1139 Words

About 38,805,500 people were killed just in the events talked about in this paper and only five events are talked about. That just shows what imperialism causes. Imperialism is when a dominant country seeks to increase their size and forces (either by war or diplomacy) a smaller country to submit to their rule. The Age of Imperialism began in the 1870s and went until World War 1. During this time imperialism was very prevalent and the events that took place during this time had lasting effects and still affect us to this day. While imperialism could be seen as beneficial, especially to the dominant country, it is has many negative effects. It creates racism, causes conflict between countries, and causes war between nations. One reason†¦show more content†¦This can disrupt the social balance of the country. For example, when European countries imperialized Africa, they didn’t take tribe boundaries into consideration when they split up the land. This lead to tribes being split and tribes that hate each other being forced into the same territory. These conflicts can be especially destructive, as shown by the Rwandan Genocide. In 1962 Rwanda was granted independence from Belgium. Throughout Belgium’s rule, they believed that the minority population, the Tutsi, were superior to the majority, the Hutu. Because of this, Belgium put the Tutsis in charge of Rwanda. This angered the Hutus and created tension between the two groups. This tension continued after Belgium left Rwanda and eventually the death of the Hutu president, Juvà ©nal Habyarimana, sparked the genocide. A mob of Hutus called the Interahamwe began killing the Tutsis with machetties and other crude weaponry. According to B BC News about 800,000 people were killed in a span of 100 days and, according to Marijke Verpoorten, author of the article â€Å"The Death Toll of the Rwandan Genocide†, 77% of the Tutsi population was killed. Clearly, this was a very unfortunate term of events and could have been avoided if not for imperialism. While no one could say for certain that if Belgium hadn’t colonized Rwanda that the Hutus and Tutsis wouldn t ve fought, theShow MoreRelatedThe Negative Effects Of Imperialism884 Words   |  4 PagesImperialism. Noun. A policy of extending a country’s power and influence through diplomacy or military force. Imperialism is an age-old practice in which powerful countries will engulf or take over smaller weaker countries to expand their empire. New imperialism has the same idea, but it would have started in the 1870’s and the motive to continue this practice was heavily economic. Imperial powers will expand their empire for many different reasons, the victims or the colonist will make an attemptRead MoreNegative Effects of Imperialism1321 Words   |  6 PagesThe Dark Side of Imperialism Imagine for a moment that you are a fourteen-year old boy and belong to the Ibo tribe in Nigeria, Africa. Your father is a yam farmer and holds an important tribal position in your clan. Your mother is one of five wives to your father, all of whom treat him with respect and serve his every need. You are content with your life and your future looks promising. Your days consist of aiding your father in farming his crops and learning the culture and traditions of yourRead MoreNegative Effects Of Imperialism736 Words   |  3 Pagesnonnative. As a result, Imperialism began in the late nineteenth century due to economic, political, and social forces including the Industrial Revolution, trade, and military conditions. Imperialism is the domination over an undeveloped, less industrialized country by a stronger, more industrialized nation. Although Imperialism has shaped the culture and customs all over the world, it had both negative and positive impacts throughout imperialized nations. T he Perspectives on imperialism varied widely betweenRead MoreNegative Effects Of Imperialism850 Words   |  4 Pages Imperialism is defined as the policy when a powerful nation seeks to dominate other countries politically, economically, or socially. Imperialism was mostly devised because of the nationalistic feelings that the industrial revolution produced. In my opinion, imperialism has had both good and harmful effects on the world. In some ways, it has brought modernization to countries that were stuck in their old ways. In some cases, I believe it would have been better to leave these countries alone, butRead MoreNegative Effects Of Imperialism973 Words   |  4 Pagestoday. America annexed many new and useful lands due to this decision. Imperialism therefore, was justified because it provided protection and food for the developing countries. Imperialism also helped the United States acquire countless amounts of land with an abundance of resources. However, many argue that imperialism was harmful because it caused many people to lose their lives. Imperialism had many positive effects because the United States would protect and help the developing countriesRead MoreEssay on The Negative Effects of Imperialism in Africa621 Words   |  3 PagesImperialism is a policy of extending a country’s power and influence through diplomacy or military force. In the 20th century many European countries attempted to colonize the great continent of Africa. Europeans saw Africa as an area they would be able to profit from, as it had a great climate, good size, and some phenomenal natural resources. While the Europeans divided the continent of Africa they failed to see the possible negative effects on themselves, and the indigenous people of AfricaRead MoreThe Negative Effects of Imperialism in Nigeria (its possible to go into more detail, but my pages were limited to this many)1570 Words   |  7 Pageshad exported slaves from here and other places along West Africa, but this time they had a different goal. “European activities revolved around four major issues: exploration, Christianity, trade, and imperialism.” Consequently, all these were related, because one lead to the next. Therefore, in effect, all of these were roots of the problems to come. Gradually, in the 1850Â’s the British began to make their presence felt even more. Then, beginning in 1861, the British set up the policy of indirectRead MoreEuropean Imperialism - Dbq Essay804 Words   |  4 Pagesthe history of the world, imperialism has played a major role. Imperialism is one country’s complete domination of the political, economic, and social life of another country. Imperialism has many positive and negative effects. The Age of Imperialism is considered 1800 - 1914. During this time Europe became a major world leader. European countries set up colonies all over Africa, Latin America, and Asia, and encouraged their citizens to populate them. European imperialism boosted Europe’s economyRead MoreImperialism is when a mother nation takes over another nation and become its colony for political,700 Words   |  3 PagesImperialism is when a mother nation takes over another nation and become its colony for political, social, and economical reasons. Imperialism is a progressive force for both the oppre ssors (mother country) and the oppressed (colony), majorly occurring during the late 19th and early 20th century. It had more negative effects than positive effects due to its domination to other nations. Documents 1 and 5 show how imperialism should work over politics and their benefits over the colonies while documentsRead MoreEssay on Africa vs European Imperialism841 Words   |  4 PagesDBQ: Imperialism In AfricaAzra Azvar Period 3 2/21/10 Whites vs Blacks In the late 19th and early 20th centuries European imperialism caused its countries to divide up the rest of the world, each country claiming bits as its own. Due to its large amounts of resources, Africa was one of the main areas European nations invaded in the cause if imperialism. In Africa, there were positive and negative effects towards the Africans and the invaders. Some positive effects on Africans were that

The Pagan History of the Olympics