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37 Pre-Budget 2018 Suggestions on Indirect Taxes Other than GST

The Institute of Chartered Accountants of India (ICAI) considers it a privilege to submit the Pre-Budget Memorandum, 2018 on Indirect Taxes other than GST to the Government of India....

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Posted Under: Excise Duty |

CBEC: Manipulative law & devious interpretation cannot be hallmark of a just taxation regime

The law needs to be transparent & implemented in a just manner & there are no two ways about it. However, the miraculous Indian bureaucracy does not believe in this basic tenet. The law is written in such a difficult manner that the lawmakers in themselves are not clear that what is the true intention […]...

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Posted Under: Excise Duty |

Analysis of Scheme of budgetary support under GST Regime

♠ The new scheme is offered, as a measure of goodwill, only to the units which were eligible for drawing benefits under the earlier excise duty exemption/refund schemes. ♠ All such notifications have ceased to apply w.e.f. 01.07.2017 and stands rescinded on 18.07.2017 vide Notification No. 21/2017-Central Excise dated 18.07.2017....

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Posted Under: Excise Duty |

CENVAT credit on deposits insurance – Banks v/s Departments

Banks are registered under service tax in the category of Banking and Financial Services. They collect and pay service tax on its various incomes such as commissions, bank charges, documentation charges, processing fees etc. levied on its customers....

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Posted Under: Excise Duty |

Refund of Swatch Bharath Cess: A new area of Litigation

Department is looking forward for GST and field formations have been instructed to adjudicate pending cases as early as possible, a new bunch of litigations started propelling in the form of rejecting the S B Cess refunds. May the CBEC issue instructions in this regard to in the form of clarification to settle things right....

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Posted Under: Excise Duty |

Limitation period of one year is not applicable for claiming refund of taxes paid under protest

Whether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...

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Posted Under: Excise Duty |

Credit not to be reversed when inputs shown as scrap at lesser value and not written off

Whether reversal of Cenvat credit is required on the inputs which are shown as scrap & value of such inputs was shown at lesser value and not written off in the books of account?...

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Posted Under: Excise Duty |

Central excise demands on Industrial Promotion Subsidy received under PSI 2007

Recently, the central excise department has started issuing SCNs for recover of central excise duty on the Industrial Promotion Subsidy received by assessees in Maharshtra state....

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Posted Under: Excise Duty |

Excise duty on medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic Systems

The provisions of Central Excise Act 1944 with respect to medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic (AYUSH) System has been discussed as under ...

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Posted Under: Excise Duty |

Budget 2017-18 : Economic reforms and indirect taxes

The tax proposals, both direct and indirect, are aimed at the following major reform areas: 1. Measures for Promoting Affordable Housing and Real Estate Sector 2. Measures for Stimulating Growth 3. Promoting Digital Economy 4.Transparency in Electoral Funding 5. Ease of Doing Business...

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Posted Under: Excise Duty |