Excise Duty : The Cenvat Credit scheme under Cenvat Credit Rules, 2004 was gifted by the Central Government of India in place of old Modvat Sche...
Goods and Services Tax : ‘Sale in transit’ (subsequent sale) under Section 6(2) of Central Sales Tax (CST) Act 1956 has become ‘an apparatus of haras...
Excise Duty : With effect from 01.04.2011, the Government has provided an equipped weapon to Revenue Officers by deletion a word i.e. ‘Setting...
Service Tax : In present trend, a large number of business entities for their mega projects are procuring land for setting up their plants or fa...
The Cenvat Credit scheme under Cenvat Credit Rules, 2004 was gifted by the Central Government of India in place of old Modvat Scheme, in the year 2004 to the manufactures, dealers, importers and service providers. In the first instant, the Cenvat scheme was looked very simple, easy, excited, error or hassle free, undisputed and un-litigated etc
‘Sale in transit’ (subsequent sale) under Section 6(2) of Central Sales Tax (CST) Act 1956 has become ‘an apparatus of harassment’ for the suppliers of the goods (manufactures or dealers). The State Revenue Assessing Officers are enjoying this tool by imposing taxes and penalties by treating it as ‘pre-determined’ sale under Section 3(a) instead of 3(b) of Central Sale Tax Act, 1956; even the suppliers (manufactures or dealers) produce relevant documents and declarations, prescribed in this Act for such transactions.
With effect from 01.04.2011, the Government has provided an equipped weapon to Revenue Officers by deletion a word i.e. ‘Setting-up’ from the definition of input services vide Notification No. 03/2011-CE(N.T.) dated 01.03.2011, to dispute the Cenvat Credit of Input Services, availed in relation to ‘setting-up’ a factory. Prior to 01.04.2011
In present trend, a large number of business entities for their mega projects are procuring land for setting up their plants or factories as well as for laying railway tracks for developing of their own railway sidings within factory premises and connecting the same from a nearby railway station for ensuring smooth transportation of fuels, raw materials, finished goods or by products etc.
