Therefore, Cenvat Credit was disallowed. It is the contention of the learned counsel that these capital goods have been used by the appellant for manufacturing of their final product. Therefore, they are entitled to avail Cenvat Credit in terms of Rule 57Q of Central Excise Rules 1994.
Read OnI Ltd. claimed Cenvat credit on the duty paid on furnace oil used for generation of electricity as it was used within the factory and was covered by the expression "for any other purpose" in rule 2(k) of the Cenvat Credit Rules, 2004. The Central Excise Department wanted to deny the Cenvat credit on the duty paid on furnace oil for generation ...
Read OnCENVAT 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 ...
Read On4% separately. Assume input tax credit is available on capital goods immediately. (5 marks) (e) Mahesh Engineers Ltd. removed goods from their factory at Kanpur on 20th April, 2015 for sale from their depot at Baroda. On that date, the normal transaction value of goods at Kanpur factory was 35,000 while normal transaction value at Baroda ...
Read OnCENVAT 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 ...
Read OnAMENDMENTS IN THE CENVAT CREDIT RULES, 2004. New Post : PPT Presentation on Union Budget 2016-17. Amendments related to Capital Goods. Wagons of sub heading 8606 92 included in the definition of capital goods; The Capital goods used in office located within factory is also eligible for Cenvat Credit.
Read OnService Tax January 12, 2017. January 13, 2017. 12416 views. Following is Service Tax Abatement Notification issued by CBEC vide Notification No.26/2012-ST dated 20-06-2012 as amended by Notification No. 04/2017-ST …
Read OnCENVAT credit on account of input services directly attributable to dutiable goods and taxable output services = INR 1,250 (fully availed and utilised against output liability) Common input services used in manufacture of dutiable goods and provision of taxable as well as exempted services (Y) = INR 500.
Read OnHence, in our view the Capital goods/inputs used in the mines are not entitled for Cenvat Credit, as mines cannot come within the definition of 'Factory' as per Section 2(e) of Central Excise Act, 1944, even if they are contiguous and given Central Excise Registration alongwith the factory. In other words, mines cannot be considered as part of ...
Read On1 st March, 2002. Notification No. 5/2002-Central Excise (N.T.). In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), and in supersession of the CENVAT Credit Rules, 2001, except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following rules, namely:-
Read OnSP Ltd. purchased capital goods worth Rs.11,44,200, inclusive of excise duty @ 14.42%, on 1.4.2007. CENVAT credit attributable on such capital goods was duly accounted for. You are required to compute the amount of CENVAT credit to be reversed, if the capital goods were removed, after being used, on 2.11.2008. 3 (0) (d)
Read Onof 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 …
Read OnHowever 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
Read On^ CENVAT credit on inputs used for providing the taxable service has not been availed. @ CENVAT credit on inputs, capital goods, input services has not been availed. [CENVAT credit of input service of Renting of Motor cab can be availed by service provider in similar line of business subject to a max. of 40% of the service tax of the value of ...
Read On(under section 98 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017) NO. GST-ARA-25/2017-18/B-34. Mumbai, dt. 19.05.2018. For reasons as discussed in the body of the order, the question is answered thus-Q1. How to avail input tax credit for excise duty paid under Rule 3(5B) of the Cenvat Credit ...
Read OnCenvat credit - recovery as wrongly availed in respect of capital goods used exclusively for R&D purposes - machines/ equipments/ apparatus installed in engineering Research Design and Development laboratory was located in the buildings separately from the production area - Held that:- the assessee's R&D facility is located within the factory premises registered with the …
Read OnAccording to the 122 nd CAB, 1. the term 'GST' was defined by introducing a clause 12A in Article. 366 of the Constitution of India, to mean "any tax on supply of goods or services or both ...
Read OnThe goods and service tax (GST) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at a national level. Integration of goods and services taxation would give India a world class tax system and improve tax collections. It would end the long standing distortions of differential ...
Read Onthe total amount of excise duty paid by Jyoti Ltd. during 2013-14 in each of the following independent cases : (i) If it has availed CENVAT credit on inputs. (ii) If it has not availed CENVAT credit on inputs. Turnover represents value of clearances for home consumption computed in accordance with Notification No. 8/2003, excluding excise duty.
Read OnObviously, 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 ...
Read OnPrior to 01.07.2017 i.e. the appointed day for roll out of GST, the applicant had been registered with Central Excise department under the existing Central Excise 1.2. Order Number OL 201S PROCEEDINGS (Under section 98 of the Madhya Pradesh Goods and Services Tax Act,2017) 1. BRIEF FACTS OF THE CASE- 'the Applicant'), are having Registration 1.1.
Read OnSince waste management is an integral part of manufacturing process, they are entitled for CENVAT credit. h) CENVAT credit on Pollution Control Equipment. In the case of M/s Monarch Catalyst P Ltd Vs CCE Thane I - 2013-TIOL-780-CESTAT-MUM, CENVAT credit on equipment installed to control pollution was allowed on the ground that removal of waste ...
Read OnRefund to Exporters . Rule 5 of the Cenvat Credit Rules, 2004 states that where any input or input service is used in the manufacture of final product which is cleared for export under bond or letter of undertaking, as the case may be, or used in the intermediate product cleared for export, or used in providing output service which is exported, the Cenvat credit in respect of …
Read On9. With regard to the second issue, denial of CENVAT Credit on the other input/capital goods, the adjudicating authority observed that the inputs and capital goods were used in the construction of Port Jetty, Port buildings and Warehouse services, which are not output service i.e. Port services.
Read OnDr. Sanjiv Agarwal. Can Capital Goods be Considered as Inputs. The capital goods which are used by the manufacturer or the service provider and which do not fall within the ambit of definition of input in rule 2(k) are to be treated as inputs and are entitled for the Cenvat credit.
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