Common Registration and Return for the First Stage Dealer and Importer
In order to make smooth functioning of business, CBEC has taken a one more step by exempting First Stage Dealer (FSD) and Importer from taking separate registration under excise law (Notification No. 30/2016- central excise(NT) dated 28th June, 2016).
Earlier, assessee’s who are conducting business both as an importer and as an FSD are required to take separate registration, now by effect of supra notification such assessee has been exempted from taking separate registration meaning thereby such assessee can do both type of business either from the FSD registration number or from Importer registration number.
CBEC has also issued Circular No. 1032/20/2016-CX dated 28th June, 2016 stating that if assesse opt for single registration for both kind of business then he has to file single quarterly return giving details of transactions as a FSD and an importer, one after the other in the same table of the return i.e. all transaction as an FSD during the return period shall be followed by all transactions as an importer during the same period.
Further it has been clarified that such facility is optional and any assessee for his own conveniences may take separate registration and accordingly have to file separate returns.