CBIC vide notification dated 5 January 2024 has mandated manufacturers of intoxicants listed in the notification to declare details of packing machines. This is to be done through FORM GST SRM-I, which must be submitted electronically on the common portal. The specifics of this requirement are as follows:
For Existing Manufacturers: Those already engaged in manufacturing goods listed in the Schedule of the notification must furnish details within 30 days of the notification coming into effect.
For New Registrations: Manufacturers who obtain registration post-notification issuance have 15 days from the date of registration to comply.
Additional Installations and Changes: Any new installations or modifications in the declared capacity of existing machines must be reported within 24 hours in the specified sections of FORM GST SRM-I.
Unique Registration Number: Each machine declared will receive a unique registration number, aiding in precise tracking and compliance.
Monthly Compliance through FORM GST SRM-II
In addition to the machine details, manufacturers are now required to submit a monthly statement in FORM GST SRM-II. This statement, due on or before the tenth day of the following month, is a critical component for ensuring ongoing compliance.
Mandatory Certificate of Chartered Engineer
A new layer of verification comes with the introduction of FORM GST SRM-III. Manufacturers must upload a certificate from a Chartered Engineer for each declared machine. This certificate is essential for the initial declaration and any subsequent amendments to machine details. This step underscores the government’s commitment to ensuring accuracy in compliance reporting.
Effective Date and Implementation
This notification is set to come into effect from April 1, 2024. Businesses have a brief window to familiarize themselves with these requirements and ensure they are fully prepared for compliance.
Implications for Manufacturers
This notification represents a significant step towards enhanced compliance and transparency in the manufacturing sector. Key implications include:
Enhanced Tracking: The unique registration number for each machine will allow for more effective tracking and monitoring of manufacturing activities.
Increased Compliance Burden: Manufacturers must gear up for additional compliance responsibilities, including regular updates and monthly statements.
Need for Diligence: Timely and accurate submission of details is crucial, given the stringent timelines and the requirement for certification from a Chartered Engineer.
Technological Adaptation: Embracing technology for electronic submissions will be vital for seamless compliance.
