Goods and Services Tax : Learn how to handle discrepancies in GSTR-2A and GSTR-3B for FY 2017-18 to 2018-19 under CGST Act 2017. Explore scenarios, clarifi...
Goods and Services Tax : 1. The concept of Input Service Distributor (ISD) has its roots in the service tax regime. The Head office of an organization obta...
Goods and Services Tax : Articles explains Conditions to avail Input tax credit under GST, Important Points related to Input tax credit under GST, Input T...
Goods and Services Tax : Input Service Distributor (ISD) means an office of the supplier of goods or services or both which receives tax invoices towards r...
Goods and Services Tax : All the businesses are required to register under GST for its all branches from where the taxable supply is being made. The concep...
Goods and Services Tax : Changes are being made in the credit utilization criteria in Form GSTR-6, filed by Input Service Distributors (ISDs). These change...
Goods and Services Tax : Department of Revenue has agreed to most of the recommendations put forward by Empowered committee in FDP on GST relating to harmo...
Service Tax : The three services qualifying for service tax refund are courier services, goods transport agency services availed for transport o...
Service Tax : Government has issued Notification No. 3/2008-ST, dated 19.02.2008, extending the scheme to refund service tax paid by exporters o...
Excise Duty : CESTAT Ahmedabad held that services availed in respect of effluent treatment plant for treatment of industrial waste is in relatio...
Excise Duty : In the case of Commissioner of Central Excise, Ludhiana vs DRP Malleables Pvt. Ltd. (supra), the Tribunal held that Chartered Acco...
Excise Duty : CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when s...
Service Tax : The Appellant is registered as Multi Product Special Economic Zone (MPSEZ) as a developer of AMRL Hi-Tech City. The Appellant clai...
Service Tax : Once the taxable service is exported and various input services have been utilized for providing the output service :i.e. appellan...
Service Tax : In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 7/2010-Central Excise (Non...
Service Tax : CENVAT Credit Rules, 2004 permit taking of credit of inputs and input services which are used for providing output services or out...
Service Tax : Trade Notice No. 14/2009 Prior to 01.04.2008 [before the amendment in Rule 6(3)] the option available to the taxpayer, under Rule...
Inputs used in relation to generation of electricity (which is in turn used in manufacture of final products) are eligible inputs for availing the cenvat credit.
Notification No. 12/2005-ST was issued on 19.04.2005. The notification stated that there will be granted rebate of the whole of the duty paid on excisable inputs or the whole of the service tax and cess paid on all taxable input services
Time and again a question arises as to whether input service includes services rendered for outward transportation up to place of removal, and the answer is positive. It was held in the case of Commissioner of Central Excise, Vadodara Vs Inox India Ltd., (CESTAT-Ahmedabad 2013, 35 taxmann.com 94) that the exporter respondent is eligible to avail cenvat credit on the service tax paid on CHA and C&F Agent services
In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 7/2010-Central Excise (Non Tariff), dated the 27th February, 2010 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 123(E), dated the 27th February, 2010, at page 60 in line 18,
This article summarizes Circular No 122/03/2010 -ST F. No. 137/71/2009 – CX.4 dated 30 April 2010 (Circular) providing clarification on issues arising in respect of the availment of CENVAT Credit in relation to book adjustments for Associated Enterprise transactions and invoices, for which payments have not been received in total.
Background of the Circular:- CENVAT Credit Rules, 2004 (‘CCR’) permit availment of credit of excise duty on inputs and service tax on input services used for manufacture of dutiable goods or providing output services. In order to zero-rate the exports, Rule 5 of CCR provides that such accumulated credit can be refunded to the exporter subject to conditions provided in Notification No. 5/2006-CE (NT) dated 14.03.2006 (‘subject notification’).
Department of Revenue has agreed to most of the recommendations put forward by Empowered committee in FDP on GST relating to harmonious structure of rate, taxation base, exemptions, chargeability, definition of taxable event, taxable person, valuation, classification etc.However, there are certain areas where Department of Revenue has suggested changes or deviated from FDP. The said areas of differences are discussed below:
The recent circular no. 120/01/2010-ST dated January 19, 2010 has been issued by the Board for claiming the refund of unutilized Cenvat credit under Rule 5 of Cenvat credit Rules by the service exporters. The above circular has tried to address all the problems faced by the service tax exporters in claiming such exemption. They have tried to give clarification on all the issues. But the famous Hindi proverb “lohe ke chane chabana” (Hard nut to crack) is apt for refund claim for the exporters under Notification 41/2007 or refund under Rule 5.
In order to make exports of services from India internationally competitive, the Government of India has zero rated such exports. Consequently, the services exporting community is entitled to obtain refunds of input tax credits or utilise such credits to offset domestic output service taxes. The IT and the ITES industry is a key part of the service exporting community and was expected to be a major beneficiary of such refunds in terms of being competitive in the global marketplace.
CENVAT Credit Rules, 2004 permit taking of credit of inputs and input services which are used for providing output services or output goods. In order to zero-rate the exports, Rule 5 of CENVAT Credit Rules, 2004 provides that such accumulated credit can be refunded to the exporter subject to stipulated conditions. Notification No. 5/2006-CE (NT) dated 14.03.2006 provides the conditions, safeguards and limitations for obtaining refund of such credit.
