In this year's Budget, a nominal excise duty of 1% [without CENVAT Credit on Capital Goods and Inputs]and 12.5% [with CENVAT Credit on Capital Goods and Inputs] has been imposed on articles of jewellery [excluding silver jewellery, other than ... CAclubindia, 3 days ago
Excise duty on disposal of capital goods as scrap - CAclubindia, 1 month ago
Cenvat of excise duty - CAclubindia, 1 month ago
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The Cenvat Credit Rules (CCR), 2004, have seen substantial changes over 12 years and now come across as a comprehensive and coherent law. Certain issues which required attention of the government have been effectively addressed in Budget 2016. ...Financial Express, 1 month ago Another round of wordy ambiguity Smart Investor, 2 months ago
S. No. Nature of amendment Rule Reference Earlier Version New Version Remarks 1. Inclusion of Sub-heading 860692 in definition of Capital Goods Rule 2(a)(A)(i) grinding wheels and the like, and parts ...CAclubindia, 1 month ago Recent changes service tax and cenvat creit - w.e.f 01.04.2016 SlideShare.net, 1 month ago Changes in Service Tax by Finance Bill 2016 CAclubindia, 1 month ago Union Budget 2016: Important changes in Service Tax and Credit Rules effective from April 1, 2016 CAclubindia, 1 month ago
Background In order to start new business operations in any sector, the project costing has to factor in the indirect taxes.Basic Customs Duty(BCD), Excise duty and Countervailing duty[CVD], 3% Customs Cess and 4% Special Additional duty(SAD)are ...CAclubindia, 1 week ago Pre-registration credit for service providers CAclubindia, 1 week ago Cenvat credit on set top box CAclubindia, 3 weeks ago
The basic principle of any VAT system is that credit of duty or tax paid on the input goods or service can be availed only for payment of duty on final products or output services. As a natural corollary, if no duty/tax is payable on final product ...CAclubindia, 2 months ago
A company becomes partner of an LLP and as part of capital contirbution introduces goods in that particular LLP. Can the LLP claim VAT credit or any cenvat credit on excise duty/ VAT paid by the company when it had purchased those goods? If possible ...CAclubindia, 2 months ago
Even with less than ideal design features, the state VAT pushed up revenues. The Goods and Services Tax, with an improved design and a fully integrated IT system for both the Centre and the states, will fare better, feels V S Krishnan Revenue uncertainties have dominated discussions about the goods and services tax. This has been especially pronounced among the states which see the movement towards the GST as a leap in the dark. What then are the reasons to assert that the ...Rediff.com, 2 months ago
By Pramod Banthia & Ankit Bachhawat India being a democratic nation, the Government is of the people, by the people and for the people. It is a well-known principle that a person cannot render service to oneself. Government being of the people, it ...Economic Times, 10 hours ago Madras HC upholds Constitutionality of Section 94-A of the Income Tax Act Singrodia Goyal & Co, 1 month ago
The Delhi High Court has sought response from the Centre, the Commissioner of Customs and others on a petition filed by Micromax Informatics seeking exemption from paying additional customs duty on import of mobile sets during 2014. The refund ...Financial Express, 6 days ago
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