Order No. 01/2015-Central Excise -CBEC hereby extends the date of submission of, Form ER-1, ER-2, ER-6 for the clearances in the month of November, 2015 from 10th of December, 2015 to 31st of December, 2015 and Form ER-4(Annual Financial Information Statement) from 30th of November, 2015 to 3 1st of December, 2015, for the assessees in the state of Tamil Nadu due to natural calamity of rains and flood.
Notification No. 60/2015-Customs (ADD) Seeks to levy provisional anti-dumping duty on Purified Terephthalic Acid, originating in, or exported from the People’s Republic of China, Iran, Indonesia, Malaysia and Taiwan for a period not exceeding six months
B1- Hyderabad Zone- Assessment and Valuation-Non-adoption of Section 4A-Valuationof Goods-Clearances made to Depots by Cement Manufacturers:- Issue: Cement in packaged form has been notified under Section 4A of the Central Excise Act, 1944 with effect from 17.3.2012. The assessee affixes a label on the bags removed to its depots clearly stating, “meant for industrial/institutional consumer”. […]
It is easy to overlook how ambitious the Indian GST will be, and a cross-country comparison highlights the magnitude of ambition. According to the World Bank (2015), over 160 countries have some form of value added tax (VAT), which is what the GST is. But the ambition of the Indian GST experiment is revealed by a comparison with the other large federal systems European Union, Canada, Brazil, Indonesia, China and Australia–that have a VAT (the United States does not have a VAT).
Circular No. 21/2015 Henceforth, appeals/ SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder: Before Appellate Tribunal- Rs. 10,00,000/-, Before High Court- Rs. 20,00,000/-, Before Supreme Court- Rs. 25,00,000/-.
A meeting was held on 9th December, 2015 between Indian and Korean delegations headed by Revenue Secretary and Commissioner, National Tax Service, Korea under the Memorandum of Understanding for Mutual Co-operation between the countries. During the meeting, a new Memorandum of Understanding (MoU) on suspension of collection of taxes during pendency of Mutual Agreement Procedure (MAP) was signed.
Availment of Exemptions Under section 93 of Finance Act, 1994, the Government is empowered to exempt generally or subject to such conditions as may be specified in the notification, taxable service of any specified description from the whole or any part of the service tax leviable thereon. During the course of this performance audit we […]
Availment/Utilisation of Cenvat Credit A provider of taxable services can, in terms of rule 4 of the Cenvat Credit Rules, 2004 avail credit of excise duty paid on inputs and capital goods and service tax paid on any input service. The credit can be utilised towards payment of service tax subject to the fulfilment of […]
Section 67 of the Finance Act, 1994, envisages that where the provision of service is for a consideration in money, value of taxable service shall be the gross amount charged for such service. During the course of this performance audit we observed 145 cases of non/short-payment of service tax of Rs. 44.74 crore. Out of […]
a cheque in the electronic form means a cheque drawn in electronic form by using any computer resource and signed in a secure system with digital signature (with or without biometrics signature) and asymmetric crypto system or with electronic signature, as the case may be
