The Hon’ble CESTAT observed that Rule 2(a) of the Credit Rules provide that the condition for availing Cenvat credit on capital goods is their use within the factory of the manufacturer of final products. It was held that there was no requirement under the Credit Rules that the capital goods must be installed within the factory of production.
Cenvat Credit of the Service tax wrongly paid under reverse charge is nothing but refund of the erroneously paid Service tax which cannot be denied Bajaj Allianz General Insurance Co. Ltd. Vs. Commissioner of Central Excise, Pune-III [2014-TIOL-1540-CESTAT-MUM] Bajaj Allianz General Insurance Co. Ltd. (“the Appellant”) is engaged in the business of providing General insurance […]
Excess Service tax paid can be adjusted with future Service Tax liability and cannot be denied on the ground of not having centralised registration or can be subjected to monetary limit. General Manager (CMTS) Vs. Commissioner of Central Excise [2014 (8) TMI 589 – CESTAT NEW DELHI] General Manager (CMTS) (“the Appellant”) are engaged in […]
The Hon’ble CESTAT, Delhi also relied upon the Hari Chemical case wherein it was held that only because in his books of accounts entries are made for taking of the credit in terms of one provision of the Rules, the same if ultimately found to be inapplicable and return of the credit is taken effect, we are of the opinion that there cannot be any legal bar in claiming the exemption under another rule. Thus, the Hon’ble Tribunal observed that though the Assessee has taken credit on input service during the period but have not utilized the same and have reversed later on, benefit of the SSI Exemption Notification cannot be denied and decided against Revenue.
In exercise of the powers conferred by Section 93(1) of the Finance Act, 1994, the CBEC vide its Notification No. 17/2014-ST dated August 20, 2014 has amended the Mega Exemption Notification No. 25/2012- ST dated June 20, 2012 (“the Mega Exemption Notification”) by inserting a new Entry No. 5A after Entry No. 5 which reads […]
We are sharing with you an important judgment of the Hon’ble High Court of Bombay in the case of Bharti Airtel Ltd. Vs. The Commissioner of Central Excise, Pune III [2014-TIOL-1452-HC-MUM-ST]on following issue: Issue: Whether Cenvat credit is available to provider of Cellular Mobile Service on Tower Parts & Pre-fabricated buildings? Facts & Background: Bharti […]
Hence, to broaden the tax base in Service tax, Sale of space or time for advertisements in broadcast media, namely radio or television, extended to cover such sales on other segments like online and mobile advertising, etc. Sale of space for advertisements in print media however would remain excluded from Service tax.
The Petitioner contended that an assessing officer can call for records in respect of any period during which the Department seeks to intensively scrutinize receipts, etc., i.e. under a Special Audit under Section 72A of the Finance Act. It was further argued by the Petitioner that the Finance Act does not contain any substantive power to call for records for scrutiny as is permissible under Rule 5A(2) of the Service Tax Rules or for the purpose of scrutiny by any authority outside of those created under the Finance Act, such as the Comptroller and Auditor General’s office.
We are sharing with you an important judgment of the Hon’ble High Court of Gujarat in the case of Commissioner of Service Tax Vs. Arvind Mills Ltd. [(2014) 45 taxmann.com 376 (Gujarat)] on the following issue: Issue: Whether the deputation of employees to subsidiary companies for limited period on cost-sharing basis covered under Manpower Recruitment […]
The Union Budget, 2014 presented by the Finance Minister today is promising on building consumer’s confidence, investor’s confidence & overall confidence and taken several steps to improve fiscal situation and boost growth of Indian economy to 7-8% in coming years. The Roadmap made for fiscal consolidation in the next 3 years is inspiring on reduced […]
