Whether the option is available to the assessee either to avail the exemption notification or to pay duty on the final products by taking Modvat credit on inputs in terms of Rule 57A of the erstwhile Central Excise Rules, 1944 (“the Excise Rules”)?
The Hon’ble Delhi CESTAT held that though the services have been performed in India but these services being Business Auxiliary Services covered by Section 65 (105) (zzb) read with Section 65 (19) of the Finance Act, are in respect of the business of the Appellant’s principal located abroad. The services being provided by the Appellant are obviously meant for and are used by GAP International for their business.
Recently, the Hon’ble Supreme Court of India, dismissed the SLP filed by the Union of India against the judgment of the Hon’ble Delhi High Court in the case of Union of India Vs. Delhi Chit Fund Association [(2014) 42 taxmann.com 52 (SC)] on following issue
Background Partial reverse charge mechanism has been introduced w.e.f. July 1, 2012 wherein both service provider and service receiver are required to pay a specified portion of service tax liability in terms of Notification No.30/2012-ST dated June 20, 2012. Since, the Service provider pays only a part of the full Service tax liability under Partial […]
Importers issuing Cenvatable invoices require registration under Central Excise & consequential amendments Background: Rule 9 of the Central Excise Rules, 2002 (the Excise Rules) provides the list of persons who are required to obtain registration under the Central Excise Act, 1944 (the Excise Act). Notification No. 17/ 2013-Central Excise (N.T.) dated December 31, 2013 (Notification […]
CA Bimal Jain Amendment in distribution of Cenvat Credit by ISD from 1st April, 2014 The CBEC vide Notification No. 05/2014-Central Excise (N.T.) dated February 24, 2014 (“the Notification”) has amended Rule 7 of the Cenvat Credit Rules, 2004 (“the Credit Rules”), which would come in to force w.e.f. April 1, 2014 and summarized as […]
Highlights of Interim Union Budget 2014-15 The Hon’ble Finance Minister P. Chidambaram presented the Interim Budget for the fiscal year 2014-15 on Monday, February 17, 2014 to cover expenditure until the Government’s term ends in May, 2014. While presenting the Interim Budget 2014 in Parliament, the Hon’ble Minister proposed no major changes in tax laws. […]
Whether Service Tax can be demanded again from the Service Recipient under reverse charge, where the same has been paid by the Service Provider and accepted by the Department?
The Central Government vide Notification No. 02/2014-ST dated January 30, 2014 has substituted the definition of ‘Governmental Authority’ to expand the scope of exemption to an authority or a board or any other body either set up by an Act of Parliament or a State Legislature or established by Government, with 90 percent or more participation by way of equity or control, to carry out any function entrusted to a municipality under Article 243W of the Constitution.
Indirect Tax Calendar for the Month of February 2015 Due Date Period EVENT FORM Payment of Service Tax 6th February January, 2015 Online Payment of Service Tax by All Assessee other than Individual/ Firm GAR-7 Payment of Excise Duty 6th February January, 2015 Monthly Online Payment Excise duty by All Assessee other than Small Scale […]
