WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates 15.02.2008

CENTRAL EXCISE

MANUFACTURE Section 2 (f) Deemed manufacture. Third schedule.

VALUATION Section 4 – Transaction Value

SECTION 4 & Valuation Rules Rule 4 - Comparable goods. Rule 5 - Freight and Insurance. Rule 6 - Additional consideration. Rule 7 - Depot clearance. Rule 8 - Captive consumption. Rule 9 - Related person. Rule 10 - Interconnected undertaking. Rule 10A – Jobwork. Rule 11 - Best judgement

SECTION 4 A Weights and Measures. OE Exemption. Different MRP.

APPELLATE / OTHER REMEDIES Commissioner (Appeals). CESTAT. Settlement Commission. Pre deposit.

CENVAT CREDIT Inputs / Capital Goods / Input Services. Cross utilisation. Input Service Distributor. Rule 6. 4 % CVD – credit thereof. Jobwork vis-à-vis 214/86.

RECENT EVENTS Credit on outward transportation. Credit on outdoor catering. Removal of used capital goods. Write off / Provision. Interest on supplementary invoices.

LTU Eligibility. Transfer of Credit. Removal of intermediate goods. Adjustment of excess duty paid. Removal of credit availed inputs & capital goods.

SERVICE TAX

Basic Features Statutory provisions. Levy on service provider - Exceptions. Levy on realisation.

Valuation. Gross amount. Consideration in kind. Reimbursements. Abatements. Service provided free.

Certain important services. Business auxiliary service. Business support service. Construction service. E/C/I. Franchisee Service. Intellectual Property service.

Certain important services. Goods Transport Agency service. Renting of immovable property. Works Contract service. Repairs & Maintenance. Ungal choice.

Export of services. Criteria. Benefits.

Import of services. Position from 28.02.1999.

RECENT EVENTS Revised return. Fee for delayed return. Utilisation of credit for GTA. Export related refund. Self adjustment.

THANKS