cenvat credit

Credit of ST paid by Commission agents under Excise—Why cheat Assessee?

Excise Duty - CBEC: Credit of ST paid on Service provided by Commission agents under Excise—Why cheat the assessee? The government of India has absolute right to levy the taxes therefore it is imperative that the taxation provision should be clearly spelt out so that there is no ambiguity & room for distortion & devious interpretation to put ...

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Transition of Tax Credits to GST Regime – An overview

Excise Duty - 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)...

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Goods & Service Tax (GST) transition simplified

Excise Duty - 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....

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CENVAT credit on deposits insurance – Banks v/s Departments

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

Excise Duty - 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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Download ICAI Technical Guide to CENVAT Credit

Excise Duty - 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 [&...

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Summary of Performance Audit on Cenvat credit scheme.

Excise Duty - 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, ...

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Changes in Excise Duty Rates in Union Budget 2009

Excise Duty - 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%....

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No Cenvat credit admissible on outward transportation services from factory to buyer’s premises

Commissioner of Central Excise & Service Tax Vs. Ultra Tech Cement Limited (Supreme Court) - Whether Goods Transport Agency (GTA) services availed for transportation of goods from place of removal to buyer’s premises will be considered as input service within ambit of Rule 2(l) of Cenvat Credit Rules, 2004?...

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CESTAT on Cenvat Credit on towers, portable shelters and accessories

M/s Vodafone Essar Digilink Ltd. Vs. CCE (CESTAT Chandigarh) - M/s Vodafone Essar Digilink Ltd. Vs. CCE (CESTAT Chandigarh) The appellant is in appeal against the impugned order wherein the cenvat credit on towers, shelters & prefabricated building etc. of Rs. 5,88,13,400/- has been denied. Consequently, the duty was demanded along with interest and equival...

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Services provided to Facebook, Ireland is Export Service & eligible for cenvat refund

Commissioner of Service Tax Vs. M/s. Gupshup Technology India Pvt. Ltd. (CESTAT Mumbai) - They provide the SMS Aggregator services to M/s Facebook under an agreement for which the bills were raised to M/s Facebook, Ireland and the amount was received in convertible foreign currency. They filed four refund applications towards refund of unutilized cenvat credit of input services used for ...

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Cenvat Credit on input Services at Job Workers premises

Larsen & Toubro Ltd. Vs CCE (CESTAT Mumbai) - Larsen & Toubro Ltd. Vs CCE (CESTAT Mumbai) This is an appeal has been filed by the appellants against denial of credit of service tax in respect of services provided to their job workers while doing their job work. 2. Ld. Counsel for the appellants argued that they were operating in Rule 4(5) o...

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Interest is leviable on credit availed even if not utilised

C.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. ...

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CBEC notifies CENVAT Credit Rules, 2017

Notification 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,...

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Availability of Cenvat Credit on inputs used in the manufacture of capital goods

F.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 ‘...

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Rule 5 of the Cenvat Credit Rules, 2004 – Refund of Cenvat Credit – Amendment to Notification No. 42/2001-CE (NT), dated 26-6-2001

Circular 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....

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Excise duty circular on Irregular availment of Cenvat credit on certain activities not amounting to manufacture

Circular 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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Recent Posts in "cenvat credit"

No Cenvat credit admissible on outward transportation services from factory to buyer’s premises

Commissioner of Central Excise & Service Tax Vs. Ultra Tech Cement Limited (Supreme Court)

Whether Goods Transport Agency (GTA) services availed for transportation of goods from place of removal to buyer’s premises will be considered as input service within ambit of Rule 2(l) of Cenvat Credit Rules, 2004?...

Read More

CESTAT on Cenvat Credit on towers, portable shelters and accessories

M/s Vodafone Essar Digilink Ltd. Vs. CCE (CESTAT Chandigarh)

M/s Vodafone Essar Digilink Ltd. Vs. CCE (CESTAT Chandigarh) The appellant is in appeal against the impugned order wherein the cenvat credit on towers, shelters & prefabricated building etc. of Rs. 5,88,13,400/- has been denied. Consequently, the duty was demanded along with interest and equivalent amount of penalty has been imposed. ...

Read More

Credit of ST paid by Commission agents under Excise—Why cheat Assessee?

CBEC: Credit of ST paid on Service provided by Commission agents under Excise—Why cheat the assessee? The government of India has absolute right to levy the taxes therefore it is imperative that the taxation provision should be clearly spelt out so that there is no ambiguity & room for distortion & devious interpretation to put ...

Read More
Posted Under: Service Tax |

Services provided to Facebook, Ireland is Export Service & eligible for cenvat refund

Commissioner of Service Tax Vs. M/s. Gupshup Technology India Pvt. Ltd. (CESTAT Mumbai)

They provide the SMS Aggregator services to M/s Facebook under an agreement for which the bills were raised to M/s Facebook, Ireland and the amount was received in convertible foreign currency. They filed four refund applications towards refund of unutilized cenvat credit of input services used for export of services in terms of Rule 5 of...

Read More

Cenvat Credit on input Services at Job Workers premises

Larsen & Toubro Ltd. Vs CCE (CESTAT Mumbai)

Larsen & Toubro Ltd. Vs CCE (CESTAT Mumbai) This is an appeal has been filed by the appellants against denial of credit of service tax in respect of services provided to their job workers while doing their job work. 2. Ld. Counsel for the appellants argued that they were operating in Rule 4(5) of Cenvat […]...

Read More

Transition of Tax Credits to GST Regime – An overview

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 More
Posted Under: Service Tax |

CBEC notifies CENVAT Credit Rules, 2017

Notification 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 More

Goods & Service Tax (GST) transition simplified

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 More
Posted Under: Service Tax |

Interest is leviable on credit availed even if not utilised

C.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 More

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....

Read More
Posted Under: Service Tax |
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