The Central Board of Excise and Customs (CBEC or the Board) vide Circular No. 185/4/2015-ST dated June 30, 2015 had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns, to be followed by the Revenue with effect from August 1, 2015. Now, on similar line, the Board has now issued instructions/ guidelines on detailed scrutiny of Central Excise Returns vide Circular No. 1004/11/2015-CX dated July 21, 2015 (the Circular)
Mystery of Confusing Notifications on applicability of Excise Duty on Textiles, Mobile phone, Note books, Spectacles, Calculators, Water filters, Sauces and ketchups, Bicycles, etc. The Central Board of Excise and Customs has issued three Central Excise Notifications apparently to clarify when manufacturers can avail exemption or concessional rates of CE duty.
The much talked about Goods and Services tax (GST) Regime has been creating a buzz amongst all, eagerly waiting for the monsoon session of the Parliament to commence with the hope that the much awaited Constitution (122nd Amendment) Bill, 2014 on GST (‘122nd CAB’or ‘GST Bill’) will be passed.
Thus, if an assessee declares amount of Service tax payable by him in his ST-3 Return (on self-assessment) but does not pay the Service tax, immediate recovery proceedings can be initiated under Section 87 of Finance Act, without even issuing any SCN.
Whether Cenvat credit on Inputs can be denied when defect in raw material is detected after it undergoes certain process of manufacturing and whether it can be said that such raw material has not been used in the manufacture of final product?
Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime We are happy to inform that the Fourth Workshop under the series is being organised on the theme “Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Its relevance in GST Regime on Friday, 17 July, 2015 […]
CBEC vide Circular No. 113/07/2009-ST dated April 23, 2009 had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns (ST-3 Returns) and had circulated a Return Scrutiny Manual for Service tax.
The Service Tax Rules, 1994 were amended vide Notification No. 5/2015 – ST dated March 1, 2015 to insert New Rule 4C after Rule 4B thereof. In terms of Rule 4C of the Service Tax Rules, provision for issuing digitally signed invoices, bill or challan has been added along with the option of maintaining of records in electronic form and their authentication by means of digital signatures effective from March 1, 2015.
Whether the benefit of export can be denied on account of non-realisation of export proceeds when goods are exported without payment of Excise duty under Bond?
Whether an appeal under Section 85 of the Finance Act, 1994) would lie as against the Rejection Order of declaration passed by the Designated Authority under the Voluntary Compliance Encouragement Scheme, 2013 .
