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  • CENVAT credit on capital goods An unheeded

    2021-4-22 · CENVAT credit on capital goods An unheeded disparity in Telecom Industry. July 08,2015 Availment of credit on capital goods is an issue currently impacting the telecommunication industry as a whole with divergent views from courts. to be executed by EOU/ EHTP/ STP/Bio Technology Park units for provisional assessment of goods to

    CENVAT AND ITS IMPLICATIONS Welingkar Online

    2020-12-1 · However in 1994, the Scheme was extended to capital goods also by the introduction of Rule 57Q to Rule 57U of the Central Excise Rules. Modvat was renamed as Cenvat w.e.f 1.4.2000 Vide Notfn No. 11/2000 CE (N.T) dated 1.3.2000, which introduced new Cenvat Credit Rules. Full-fledged Cenvat Credit Rules 2001 were introduced w.e.f 1.7.2001. 5

    Service Tax on Works Contract -Valuation –Cenvat

    2012-11-17 · CENVAT credit on Inputs not Allowed. As per explanation 2 of the determination of valuation rules, the provider of works contract service cannot take CENVAT credit of inputs (goods) used in relation to the execution of works contract. As per earlier provisions, the service provider had the option to pay service tax on full value of contract and

    Input tax credit under GST does not cover cenvat

    2018-9-11 · Obviously, the applicant, during the period prior to 1.7.2017, had been availing credit of duty paid on inputs/capital goods and service tax paid on services used in or in relation to the activity of extraction/manufacture of coal in terms of Cenvat Credit Rules, 2004, and utilizing the same for payment of duty due on coal manufactured and

    CESTAT RULING (CENTRAL EXCISE) Tax India Online

    2018-10-2 · Cenvat credit under Cenvat Credit Rules, 2004. On appeal, the Commissioner (Appeals) upheld the order of the adjudicating authority resulting in the present appeal.The appellant s have been using the impugned goods as input for pass racking material catching in the roll which determines the shape of the final products. Further,

    CENVAT Credit reversal Controversy continues

    2014-10-30 · The issue dealt with in the stay order relates to applicability of formula prescribed in Rule 6(3A) for CENVAT credit reversal read with Rule 6(3) of CENVAT Credit Rules, 2004 (CCR, 2004). Many of the taxpayers are involved in providing both taxable and exempt services (including trading) and manufacture of dutiable and exempt goods.

    RG 23c part ii Register of Excise Entry Book for taking

    Excise stock register RG 23C Part 1 Cenvat account of capital goods to be used for or in relation to the manufacture of final products Rule 7 of Cenvat Credit Rules 2002 (Triplicate book of 50 into 3) RG23D Register under Central Excise Rule 52A Entry book 16 columns Proforma for Records of Receipts of Duty paid Goods and Issue thereof (3

    EXPORT PROMOTION COUNCIL FOR EOUs & SEZs

    2020-4-21 · CENVAT credit thereof, CENVAT credit carried forward erroneously and related interest, penalty or late fee payable arising as a result of the proceedings of assessment, adjudication, appeal etc. The arrears of central excise duty /service tax and CENVAT credit thereof shall be recovered as central

    MONTHLY AUDIT BULLETIN NOVEMBER, 2013 Central

    2017-11-27 · of Central Excise Tariff which they got manufactured on job work basis from another unit. The assessee was availing the facility of CENVAT Credit on various inputs, capital goods and input services. On scrutiny of the records of Excise and E.R.1s for the period from October, 2010, to

    Excise stock register RG 23C Part 1 Cenvat account of

    Home / Registers, Forms, Account Books Of Acts and Laws / Central Excise Rules Register books like RG register, Stocks register etc / Excise stock register RG 23C Part 1 Cenvat account of capital goods to be used for or in relation to the manufacture of final products Rule 7 of Cenvat Credit Rules 2002 (Triplicate book of 50 into 3)

    what is cenvat credit expain it ALLInterview

    cenvat credit generally related to exercise where as the calculation of cenvat credit is like vat the tax which is paid at the time of purchase for excise goods and the tax which need to pay at the time of sales- the tax which is paid at the time of purchase is known as cenvat credit while paying the tax three things will be taken in to

    Changes in Service Tax with Rules, Guidance notes,

    2021-5-3 · Cenvat credit is, therefore, not available on these items. Availability of Cenvat credit on other inputs, input services and capital goods would be subject to the provisions of the Cenvat Credit Rules, 2004 including the provisions relating to reversal of credits contained in rule 6 of the said rules. GUIDANCE NOTE 6 EXEMPTIONS

    Mahindra Ugine Steel Co. Ltd vs Commissioner Of

    2015-6-7 · Sub-rule (2) of Rule 7 of the Cenvat Credit Rules, 2001/2002 (as they stood at the relevant time) further stipulated that a manufacturer/producer taking Cenvat credit on inputs or capital goods shall take all reasonable steps to ensure that the inputs or capital goods in respect of which he has taken Cenvat credit are goods on which appropriate

    The Blog of Dr.Mahesh Gour: 2011

    2011-10-19 · 3. A proviso inserted after Rule 3(5) ‘Provided further that if the capital goods, on which CENVAT Credit has been taken, are removed after being used the manufacturer or provider of output services shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by the percentage points calculated by straight line method as specified below for each quarter of a year or

    The Blog of Dr.Mahesh Gour: January 2012

    2012-1-30 · The assessee claimed the CENVAT credit on the duty paid on capital goods which were later destroyed by fire. The Insurance Company reimbursed the amount inclusive of excise duty. Is the CENVAT credit availed by the assessee required to be reversed? [Ref.- CCE v. Tata Advanced Materials Ltd. 2011 (271) E.L.T. 62 (Kar.)]

    CA Final Group II : Indirect Tax Laws May 2011

    Write a short note with reference to the Central Excise Act, 1944 and CENVAT Credit Rules 2004 on "goods" and "exempted goods". 2x3=6 (0) (ii) Explain briefly the significance of "trade parlance test" with respect to classification of excisable goods under the Central Excise Act, 1944. (0) (b) (i)

    Amendment applicable for 2014 SlideShare

    2014-9-11 · The assessee claimed the CENVAT credit on the duty paid on capital goods which were later destroyed by fire. The Insurance Company reimbursed the amount inclusive of excise duty. Is the CENVAT credit availed by the assessee required to be reversed? The assessee purchased some capital goods and paid the excise duty on it.

    Service tax payable on re-rubberizing charges

    2009-4-8 · The applicant submits that as per the notification No.12/2003-S.T. dated 20.6.2003, the value of goods and materials sold in the course of re-rubberisation shall be outside the purview of service tax. The applicant has also referred to Circular No. 59/8/2003-S.T. dated 20.6.2003 of the Central Board of Excise & Customs (CBEC). 3.

    Indirect Tax Newsletter Lexology

    2016-6-13 · Anti-dumping duty imposed on ‘Coumarin’ of all types (Tariff Item 2932 20 10), originating in or exported from People’s Republic of China, for a

    Seeks to prescribe effective rates for specified goods

    (2) The exemption shall not be applicable to a manufacturer of the said goods who avails of the exemption under the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 8/2000- Central Excise, dated the 1 st March, 2000 published in the Gazette of India vide number G.S.R.186(E), dated the 1 st March

    what is cenvat credit expain it ALLInterview

    cenvat credit generally related to exercise where as the calculation of cenvat credit is like vat the tax which is paid at the time of purchase for excise goods and the tax which need to pay at the time of sales- the tax which is paid at the time of purchase is known as cenvat credit while paying the tax three things will be taken in to

    Indirect Tax Ergo Newsletter June 2016 Tax India

    2016-6-15 · Accordingly, the Central Excise Authorities demanded reversal of 10% of the CENVAT Credit in terms of Rule 6(3) of the Credit Rules. The Appellate Tribunal after a detailed consideration, held that under Rule 6(1) of the Credit Rules, no CENVAT Credit is admissible in relation to inputs used for manufacture of exempted goods.

    VILGST Home Updates on GST, VAT, Service Tax,

    2015-9-9 · Central Excise Admissibility of cenvat credit with respect to rejected returned goods Show cause notice that appellant did not maintain any records/ registers for rejected and returned goods as provided under Rule 16 of Central Excise Rules, 2002 Whether conversion of granules again into PP Granules by adding certain additives amounts

    Chinmay Tutorials

    2015-4-17 · The CBEC vide the its Circular No. 962/2012 dated 28-03-2012 has clarified that Cenvat credit balance available on the last day of the month or quarter can be utilized for payment of duty relating to that month or quarter, even if the self assessed duty is paid belatedly (i.e. after the due date specified under Rule 8 of the Central Excise

    Service tax payable on re-rubberizing charges

    2009-4-8 · The applicant submits that as per the notification No.12/2003-S.T. dated 20.6.2003, the value of goods and materials sold in the course of re-rubberisation shall be outside the purview of service tax. The applicant has also referred to Circular No. 59/8/2003-S.T. dated 20.6.2003 of the Central Board of Excise & Customs (CBEC). 3.

    MARKET WATCH 03 SEPTEMBER, 2018 The Synthetic

    Also, the definition of eligible duties refers only to various duties in respect of inputs held in stock but credits in respect of capital goods are not covered. This issue will impact businesses that had undertaken significant capitalisation just before GST introduction and accumulated cenvat credit attributable to capital goods.

    Study of Central Excise in TATA STEEL Anthracite Coal

    2015-12-22 · Eligibility for Capital Goods has been provided in the Cenvat Credit Rules 2004 (for e.g, goods falling Under Chapter Headings 82, 84, 85 & 90 etc of the schedule to the (Central Excise Tariff Act.) If these capital goods are used in the factory of the manufacturer, the credit can be availed.

    Success-Gurus: ICWAI Paper-10 Applied Indirect

    2021-1-12 · Superintendent of Central Excise in form ER-5 within 15 days [rule 9A(2) to Cenvat Credit rules inserted w.e.f. 25-11-2004]. Only assessees manufacturing goods under specified

    TAX,FINANCE AND ACCOUNTS

    2013-6-7 · Hence, the afore-stated goods viz. the flexible plastic films used for testing the F&S machines are inputs used in relation to the manufacture of the final product and would be eligible for CENVAT credit under rule 57A of the erstwhile Central Excise Rules, 1944 [now rule 2(k) of the CENVAT Credit

    Union Budget 2014: an analysis of Budget proposals

    2014-7-14 · On GST, it was announced that the Government intends to find solution on issues with States in the course of the year and approve the legislative

    what is cenvat credit expain it ALLInterview

    cenvat credit generally related to exercise where as the calculation of cenvat credit is like vat the tax which is paid at the time of purchase for excise goods and the tax which need to pay at the time of sales- the tax which is paid at the time of purchase is known as cenvat credit while paying the tax three things will be taken in to

    Chinmay Tutorials

    2015-4-17 · The CBEC vide the its Circular No. 962/2012 dated 28-03-2012 has clarified that Cenvat credit balance available on the last day of the month or quarter can be utilized for payment of duty relating to that month or quarter, even if the self assessed duty is paid belatedly (i.e. after the due date specified under Rule 8 of the Central Excise

    Judgments Manupatra

    Mere taking of cenvat credit in book of account would not entail interest and penalty unless same is drawn from account of the government by way of refund or utilisation against duty dues(23.01.2019) Appellant manufactures bright bar of stainless steel, and mild steel and mild steel wire. It has registered under the Central Excise Act.

    Success-Gurus: ICWAI Paper-10 Applied Indirect

    2021-1-12 · Superintendent of Central Excise in form ER-5 within 15 days [rule 9A(2) to Cenvat Credit rules inserted w.e.f. 25-11-2004]. Only assessees manufacturing goods under specified

    Study of Central Excise in TATA STEEL Anthracite Coal

    2015-12-22 · Eligibility for Capital Goods has been provided in the Cenvat Credit Rules 2004 (for e.g, goods falling Under Chapter Headings 82, 84, 85 & 90 etc of the schedule to the (Central Excise Tariff Act.) If these capital goods are used in the factory of the manufacturer, the credit can be availed.

    TAX,FINANCE AND ACCOUNTS

    2013-6-7 · Hence, the afore-stated goods viz. the flexible plastic films used for testing the F&S machines are inputs used in relation to the manufacture of the final product and would be eligible for CENVAT credit under rule 57A of the erstwhile Central Excise Rules, 1944 [now rule 2(k) of the CENVAT Credit

    GST impact on Indian Textile Industry Value Added

    2021-1-13 · Central excise duty was first introduced on woven garments in year 2001 which was subsequently extended to the entire textile industry by 2003. The excise duty exemption option was also provided vide notification no.30/2004 with a condition of non-availment of Cenvat credit. There was also an option to pay concessional rate of excise duty

    Memorandum Central Board of Direct Taxes,

    2021-3-13 · 2. The Finance (No.2) Bill, 2014 seeks to prescribe the rates of income-tax on income liable to tax for the assessment year 2014-2015; the rates at which tax will be deductible at source during the financial year 2014-2015 from interest (including interest on securities), winnings from lotteries or crossword puzzles, winnings from horse races, card games and other categories of income liable

    CA. K S KOHLI: March 2011

    2011-3-31 · • Central Excise Duty to be maintained at standard rate of 10 per cent. • Reduction in number of exemptions in Central Excise rate structure by withdrawing exemption on 130 items that are mainly consumer goods. • Nominal Central Excise Duty of 1% imposed on 130 items entering in the tax net. No CENVAT credit available for the manufacture

    Day 10 Value Added Tax Financial Statement

    2020-12-10 · Sale to another State IGST Central Sales Tax + There will only be Excise/Service Tax one type of tax (central) in case of inter-state sales. The Centre will then share the IGST revenue based on the destination of goods. 51 Illustration: • Let us assume that a dealer in Gujarat had sold the goods to a