PG James

Cenvat credit eligibility of services used for clearance of final products upto the place of removal

Excise Duty - By virtue of powers granted under Section 37(1) of Central Excise Act, 1944, Central Government can make rules to provide for credit of Service Tax leviable under Chapter V of the Finance Act, 1994 (32 of 1994) paid or payable on taxable services used in or in relation to the manufacture of excisable goods. ...

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‘Reasonable steps’ in Cenvat Credit Rules – Signals of coming back ..!!

Excise Duty - Off late many assessees faced the wrath of the Department by way of Show Cause Notices, spot recoveries and personal penalties owing to the alleged failure to take reasonable care while taking Cenvat credit. If the default of duty or tax payment is necessitated either due to genuine reasons or conscious evasion, the assessees at the recei...

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Cenvat Credit on Advances towards provision of taxable service

Excise Duty - Input service is defined in Rule 2(l) of Cenvat Credit Rules, 2004 as service used by the manufacturer or service provider. Wherever the word “input service’ appears in Cenvat Credit Rules, it would connote the meaning as input service used. Being so, Service Tax on advances, inasmuch as it relates to a service provided and not used b...

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Recent Posts in "PG James"

Cenvat credit eligibility of services used for clearance of final products upto the place of removal

By virtue of powers granted under Section 37(1) of Central Excise Act, 1944, Central Government can make rules to provide for credit of Service Tax leviable under Chapter V of the Finance Act, 1994 (32 of 1994) paid or payable on taxable services used in or in relation to the manufacture of excisable goods. ...

Read More
Posted Under: Service Tax |

‘Reasonable steps’ in Cenvat Credit Rules – Signals of coming back ..!!

Off late many assessees faced the wrath of the Department by way of Show Cause Notices, spot recoveries and personal penalties owing to the alleged failure to take reasonable care while taking Cenvat credit. If the default of duty or tax payment is necessitated either due to genuine reasons or conscious evasion, the assessees at the recei...

Read More

Cenvat Credit on Advances towards provision of taxable service

Input service is defined in Rule 2(l) of Cenvat Credit Rules, 2004 as service used by the manufacturer or service provider. Wherever the word “input service’ appears in Cenvat Credit Rules, it would connote the meaning as input service used. Being so, Service Tax on advances, inasmuch as it relates to a service provided and not used b...

Read More

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