cenvat credit

CENVAT credit on deposits insurance – Banks v/s Departments

Excise Duty - Banks are registered under service tax in the category of Banking and Financial Services. They collect and pay service tax on its various incomes such as commissions, bank charges, documentation charges, processing fees etc. levied on its customers....

Read More

Limitation period of one year is not applicable for claiming refund of taxes paid under protest

Excise Duty - Whether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...

Read More

Budget 2017-Important Changes in Service Tax

Excise Duty - The application fee for seeking advance ruling is to be increased from rupees two thousand five hundred(Rs 2500/-) to rupees ten thousand(Rs.10,000/-) on the lines of the Income Tax Act.( Section 96C(3) of the Finance Act, 1994)...

Read More

Accounting treatment of CENVAT refund under N/N 187/6/2015

Excise Duty - In order to support the survival of exporter of services in international market and for the growth Indian economy, the Central Board of Excise and Custom department has provided the facility of refund of CENVAT credit under rule 5 of CENVAT credit rules, 2004....

Read More

Failure to give intimation not restricts Reversal of Proportionate Cenvat Credit

Excise Duty - Whether the option to reverse CENVAT credit, under Rule 6(3) (ii) of the CENVAT credit rules, 2004 (CCR) be denied merely on the ground that no intimation was given to the department?...

Read More

Download ICAI Technical Guide to CENVAT Credit

Excise Duty - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Introduction of CENVAT credit rules across goods and services in the year 2004 was one of the major steps in indirect taxes reform process. Since then these rules have undergone significant changes as the Government has addressed issues and di...

Read More

Summary of Performance Audit on Cenvat credit scheme.

Excise Duty - We observed instances of non-submission of various prescribed returns by the assessees. Non-submission of returns would hinder the department’s ability to verify the duty paid by assessees, correctness of valuation, availing of Cenvat credit, ...

Read More

Changes in Excise Duty Rates in Union Budget 2009

Excise Duty - However, the said goods would be exempt from excise duty subject to non availment of Cenvat credit on input. [Notification No 30/2004-CE refers]. Thus, the exemption will be optional. Those opting to pay duty @ 4% will be eligible to avail Cenvat credit. The applicable rates for CVD purposes will be 4%....

Read More

Interest is leviable on credit availed even if not utilised

C.C.E. & S.T., Surat II Vs Shri Rakesh M. Shah (CESTAT Ahmedabad) - Honble Supreme Court and jurisdictional High Courts gave the rulings that reversal of Cenvat credit will amount to not taking Cenvat credit and accordingly benefit of relevant exemption notifications was held to be available to such assessees who reverse Cenvat credit earlier taken. ...

Read More

Cenvat Credit cannot be denied for mere non-Registration of Premises

Commissioner, Service Tax Vs M/S Pangea 3 Legal Database Systems Pvt. Ltd. (Allahabad High Court) - Insofar as requirement of registration with department as a condition precedent for claiming Cenvat credit is concerned, there is no provision in Cenvat Credit Rules which impose such restriction. ...

Read More

SEZ developer can claim ST refund on Input services by CA, CS etc

AMRL Hitech City Ltd Vs Commissioner of Central Excise & ST (CESTAT Chennai) - The Appellant is registered as Multi Product Special Economic Zone (MPSEZ) as a developer of AMRL Hi-Tech City. The Appellant claimed the refund of credit paid on various input services under Rule 5 of CENVAT Credit Rules, 2004 (“CC Rules”) read with Notification No. 12/2013-ST dated July 01, 20...

Read More

Penalty justified for removal of Machinery without CENVAT reversal

M/s Sidmak Laboratories (India) Pvt Limited Vs Commissioners of Central Excise, Customs and Service Tax-DAMAN (CESTAT Ahmedabad) - I find that the appellant shifted the machinery from their registered premises without reversal of the credit. The Central Excise Officers detected the irregularity and thereafter, the appellant reversed the credit....

Read More

Cenvat on bills in HO name despite non registration as ISD

Prince Swr Systems Pvt Limited Vs Commissioners of Central Excise, Customs and Service Tax-VAPI (CESTAT Ahmedabad) - The appellant availed CENVAT credit during the period from June 2009 to March 2010 on the service tax paid on the basis of the invoices issued in the name of their head office. The Learned Advocate submits that the appellant is only manufacturing unit of the head office....

Read More

Availability of Cenvat Credit on inputs used in the manufacture of capital goods

F.No.267/11/2010-CX8 - (08/07/2010) - I am directed to invite your attention to the landmark judgement of the CESTAT Larger Bench in the case of Vandana Global Ltd. V/s CCE, Raipur [2010-TIOL-624-CESTAT-DEL-LB] delivered on 30.04.10, on admissibility of credit on capital goods and inputs and to state that the Tribunal has ruled that ‘...

Read More

Rule 5 of the Cenvat Credit Rules, 2004 – Refund of Cenvat Credit – Amendment to Notification No. 42/2001-CE (NT), dated 26-6-2001

Circular No. 928/18/2010-CX - (28/06/2010) - It has been brought to the notice of the Board that some of the manufacturers of exempted goods are exporting such goods under bond. Subsequently, they claim refund of accumulated input credit under Rule 5 of the CENVAT Credit Rules, 2004....

Read More

Excise duty circular on Irregular availment of Cenvat credit on certain activities not amounting to manufacture

Circular No. 911/01/2010-CX - (14/01/2010) - Reference has been received from field formations stating that though certain activities including connectorising, testing, repacking and relabeling of feeder cables, cutting of HR/CR coils into sheets or slitting into strips do not amount to manufacture, such processors are taking Cenvat credit and...

Read More

Recent Posts in "cenvat credit"

Interest is leviable on credit availed even if not utilised

C.C.E. & S.T., Surat II Vs Shri Rakesh M. Shah (CESTAT Ahmedabad)

Honble Supreme Court and jurisdictional High Courts gave the rulings that reversal of Cenvat credit will amount to not taking Cenvat credit and accordingly benefit of relevant exemption notifications was held to be available to such assessees who reverse Cenvat credit earlier taken. ...

Read More

CENVAT credit on deposits insurance – Banks v/s Departments

Banks are registered under service tax in the category of Banking and Financial Services. They collect and pay service tax on its various incomes such as commissions, bank charges, documentation charges, processing fees etc. levied on its customers....

Read More
Posted Under: Excise Duty |

Cenvat Credit cannot be denied for mere non-Registration of Premises

Commissioner, Service Tax Vs M/S Pangea 3 Legal Database Systems Pvt. Ltd. (Allahabad High Court)

Insofar as requirement of registration with department as a condition precedent for claiming Cenvat credit is concerned, there is no provision in Cenvat Credit Rules which impose such restriction. ...

Read More

Limitation period of one year is not applicable for claiming refund of taxes paid under protest

Whether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...

Read More
Posted Under: Excise Duty |

Budget 2017-Important Changes in Service Tax

The application fee for seeking advance ruling is to be increased from rupees two thousand five hundred(Rs 2500/-) to rupees ten thousand(Rs.10,000/-) on the lines of the Income Tax Act.( Section 96C(3) of the Finance Act, 1994)...

Read More
Posted Under: Excise Duty |

Accounting treatment of CENVAT refund under N/N 187/6/2015

In order to support the survival of exporter of services in international market and for the growth Indian economy, the Central Board of Excise and Custom department has provided the facility of refund of CENVAT credit under rule 5 of CENVAT credit rules, 2004....

Read More
Posted Under: Excise Duty |

Download ICAI Technical Guide to CENVAT Credit

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Introduction of CENVAT credit rules across goods and services in the year 2004 was one of the major steps in indirect taxes reform process. Since then these rules have undergone significant changes as the Government has addressed issues and di...

Read More
Posted Under: Excise Duty | ,

Summary of Performance Audit on Cenvat credit scheme.

We observed instances of non-submission of various prescribed returns by the assessees. Non-submission of returns would hinder the department’s ability to verify the duty paid by assessees, correctness of valuation, availing of Cenvat credit, ...

Read More
Posted Under: Excise Duty |

Failure to give intimation not restricts Reversal of Proportionate Cenvat Credit

Whether the option to reverse CENVAT credit, under Rule 6(3) (ii) of the CENVAT credit rules, 2004 (CCR) be denied merely on the ground that no intimation was given to the department?...

Read More
Posted Under: Excise Duty |

Excise Duty on Inputs cleared after Use or as Waste/Scrap?

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Whether Central Excise Duty Payable on Inputs Cleared After Use or as Waste/Scrap? After going through the above title first question comes into mind is how an input can be removed after use or as Waste/Scrap. As per my understanding it [&hell...

Read More
Posted Under: Excise Duty |
Page 1 of 41234

Browse All Categories

CA, CS, CMA (3,374)
Company Law (3,262)
Custom Duty (6,439)
DGFT (3,355)
Excise Duty (4,001)
Fema / RBI (3,176)
Finance (3,328)
Income Tax (24,524)
SEBI (2,667)
Service Tax (3,269)

Search Posts by Date

May 2017
M T W T F S S
« Apr    
1234567
891011121314
15161718192021
22232425262728
293031