Restrictions under Cenvat Credit Rules- An analysis

  • Category: Erstwhile Indirect Tax Laws
  • Date: 14-08-2015
  • Writers: CA Ashish Chaudhary, CA Madhukar N Hiregange

Cenvat Credit scheme is designed to avoid cascading effects but it has been seen over a period that the government has been diluting the basic philosophy of the rule by introducing many arbitrary restrictions. This has been done to augment revenue without increasing the tax rates. Paper writer has made an attempt to analyse the restrictions and raise some possibilities as under:  

  1. Partially using motor vehicle for renting: Motor vehicles falling under chapter heading 8704...

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Central Excise Levy on Hotel Industry

  • Category: Erstwhile Indirect Tax Laws
  • Date: 14-08-2015
  • Writers: CA Mahadev R, CA Venkatanarayana G M

Restrictions under Cenvat Credit Rules- An analysis

  • Category: Erstwhile Indirect Tax Laws
  • Date: 14-08-2015
  • Writers: CA Ashish Chaudhary, CA Madhukar N Hiregange

Whether Rebate under Rule 18 of Central Excise Rules can be claimed along with Advance authorisation

  • Category: Erstwhile Indirect Tax Laws
  • Date: 13-08-2015
  • Writer: CA Ashish Chaudhary

Rebate: The provision to claim rebate is governed by Rule 18 of the Central Excise Rules,  

2001. As per the Rule, the rebate may be claimed for  

  • Duty paid on inputs used in the manufacture of final products which are exported  
  • Duty paid on final products which are exported  

An exporter may claim only one of the options out of two above.   

Generally second option is followed under which the manufacturer exporter can opt for rebate of excise duty paid on...

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CENVAT Credit on Courier Bill of Entry

  • Category: Erstwhile Indirect Tax Laws
  • Date: 13-08-2015
  • Writer: CA Lakshmi G K

Whether Rebate under Rule 18 of Central Excise Rules can be claimed along with Advance authorisation -

  • Category: Erstwhile Indirect Tax Laws
  • Date: 13-08-2015
  • Writer: CA Ashish Chaudhary

Clarification with respect to eligibility of Cenvat Credit - Transit sale by dealer

  • Category: Erstwhile Indirect Tax Laws
  • Date: 12-08-2015
  • Writer: CA Lakshmi G K

In budget 2015-16 One of the amendments made to rule 11(2) od central excise rules, 2002 by way of notification no. 8/2015 - CE (NT) dated 01.03.2015 applicable w.e.f 01.03.2015. The amendment as follows

“Provided also that if the goods are directly sent to any person on the direction of the registered dealer, the invoice shall also contain the details of the registered dealer as the buyer and the person as the consignee, and that person shall take CENVAT credit on the basis of the...

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Service Tax Return Scrutiny: How to Combat

  • Category: Erstwhile Indirect Tax Laws
  • Date: 12-08-2015
  • Writer: CA Ashish Chaudhary

 

Service Tax has been most targeted area of Central government for garnering revenue and  

it has been constantly undertaking measures to pluck the revenue leakage. One such measure has been taken by issuing detailed manual scrutiny norms of Service Tax Returns vide Circular No. 185/4/2015-ST.  

Paper writer has made an attempt to analyse new provisions in the scrutiny norms and how small taxpayers can guard themselves against...

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Clarification with respect to eligibility of Cenvat Credit - Transit sale by dealer

  • Category: Erstwhile Indirect Tax Laws
  • Date: 12-08-2015
  • Writer: CA Lakshmi G K

Service Tax Return Scrutiny: How to Combat

  • Category: Erstwhile Indirect Tax Laws
  • Date: 12-08-2015
  • Writer: CA Ashish Chaudhary