Availment of credit based on unsigned invoice or printed signature on computers generated invoice has at times been an area of audit objections by departmental official during the audit, verification, investigation. The law was silent on the issuance of computerized invoice and taking of credit based on computerized invoice.
Finance Act 2015 has provided specific provisions for issuance of digitally signed invoices and preservations of records in computerised form authenticated by...
Read moreThe concept of adding the value of free goods or services supplied by customer used in manufacture of excisable goods is not new in Central Excise. The principle that VAT and service tax are mutually exclusive adds to the confusion. [Imagic Creative – 2008(9) STR 337 (SC)] Section 67 emphasizing on the gross value of service has also undergone change in this Finance Act- 2015.
Valuation of services under service tax law has always been subject matter of interpretation and disputes. In...
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