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Goods and Services Tax - With the introduction of GST Regime, a taxpayer is required to carry forward the balance of CENVAT credit / Input Tax Credit (ITC) to GST regime and adjust it against GST liability. Also, vide section 140(3) of Transitional Provisions contained in Central Goods and Services Tax Act, 2017 (CGST Act)...
Read MoreGoods and Services Tax - As we are nearing to July 1, 2017 GST will be a reality soon. For the transition from existing law to the GST law the government has made the transitional arrangements to carry forward the input tax credit under the existing laws to the GST law....
Read MoreGoods and Services Tax - 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....
Read MoreGoods and Services Tax - 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?...
Read MoreGoods and Services Tax - The application fee for seeking advance ruling is to be increased from rupees two thousand five hundred(Rs 2500/-) to rupees ten thousand(Rs.10,000/-) on the lines of the Income Tax Act.( Section 96C(3) of the Finance Act, 1994)...
Read MoreGoods and Services Tax - Introduction of CENVAT credit rules across goods and services in the year 2004 was one of the major steps in indirect taxes reform process. Since then these rules have undergone significant changes as the Government has addressed issues and difficulties faced by tax payers and also taken steps to reduce cascading of taxes. Union Budget [&...
Read MoreGoods and Services Tax - We observed instances of non-submission of various prescribed returns by the assessees. Non-submission of returns would hinder the department’s ability to verify the duty paid by assessees, correctness of valuation, availing of Cenvat credit, ...
Read MoreGoods and Services Tax - However, the said goods would be exempt from excise duty subject to non availment of Cenvat credit on input. [Notification No 30/2004-CE refers]. Thus, the exemption will be optional. Those opting to pay duty @ 4% will be eligible to avail Cenvat credit. The applicable rates for CVD purposes will be 4%....
Read MoreC.C.E. & S.T., Surat II Vs Shri Rakesh M. Shah (CESTAT Ahmedabad) - Honble Supreme Court and jurisdictional High Courts gave the rulings that reversal of Cenvat credit will amount to not taking Cenvat credit and accordingly benefit of relevant exemption notifications was held to be available to such assessees who reverse Cenvat credit earlier taken. ...
Read MoreCommissioner, Service Tax Vs M/S Pangea 3 Legal Database Systems Pvt. Ltd. (Allahabad High Court) - Insofar as requirement of registration with department as a condition precedent for claiming Cenvat credit is concerned, there is no provision in Cenvat Credit Rules which impose such restriction. ...
Read MoreAMRL Hitech City Ltd Vs Commissioner of Central Excise & ST (CESTAT Chennai) - The Appellant is registered as Multi Product Special Economic Zone (MPSEZ) as a developer of AMRL Hi-Tech City. The Appellant claimed the refund of credit paid on various input services under Rule 5 of CENVAT Credit Rules, 2004 (“CC Rules”) read with Notification No. 12/2013-ST dated July 01, 20...
Read MoreM/s Sidmak Laboratories (India) Pvt Limited Vs Commissioners of Central Excise, Customs and Service Tax-DAMAN (CESTAT Ahmedabad) - I find that the appellant shifted the machinery from their registered premises without reversal of the credit. The Central Excise Officers detected the irregularity and thereafter, the appellant reversed the credit....
Read MorePrince Swr Systems Pvt Limited Vs Commissioners of Central Excise, Customs and Service Tax-VAPI (CESTAT Ahmedabad) - The appellant availed CENVAT credit during the period from June 2009 to March 2010 on the service tax paid on the basis of the invoices issued in the name of their head office. The Learned Advocate submits that the appellant is only manufacturing unit of the head office....
Read MoreNotification No. 20/2017-Central Excise (N.T.) - (30/06/2017) - CENVAT credit. - (1) A manufacturer or producer of final products shall be allowed to take credit (hereinafter referred to as the CENVAT credit) of –(a) the duty of excise specified in the Fourth Schedule to the Excise Act, as leviable under the said Act,...
Read MoreF.No.267/11/2010-CX8 - (08/07/2010) - I am directed to invite your attention to the landmark judgement of the CESTAT Larger Bench in the case of Vandana Global Ltd. V/s CCE, Raipur [2010-TIOL-624-CESTAT-DEL-LB] delivered on 30.04.10, on admissibility of credit on capital goods and inputs and to state that the Tribunal has ruled that ‘...
Read MoreCircular No. 928/18/2010-CX - (28/06/2010) - It has been brought to the notice of the Board that some of the manufacturers of exempted goods are exporting such goods under bond. Subsequently, they claim refund of accumulated input credit under Rule 5 of the CENVAT Credit Rules, 2004....
Read MoreCircular No. 911/01/2010-CX - (14/01/2010) - Reference has been received from field formations stating that though certain activities including connectorising, testing, repacking and relabeling of feeder cables, cutting of HR/CR coils into sheets or slitting into strips do not amount to manufacture, such processors are taking Cenvat credit and...
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Notification No. 20/2017-Central Excise (N.T.) - (30/06/2017) -
C.C.E. & S.T., Surat II Vs Shri Rakesh M. Shah (CESTAT Ahmedabad) -
Commissioner, Service Tax Vs M/S Pangea 3 Legal Database Systems Pvt. Ltd. (Allahabad High Court) -
