WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates.

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Presentation transcript:

WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates

CENVAT CREDIT

Basic Features  Concept of Cenvat credit.  Landmarks – 1986, 1994 &  Cenvat Credit Rules, 2004.

Applicability  Manufacturers.  Service providers.

Certain terms.  Input.  Capital goods.  Input Services.  Input Service Distributor.  First / Second stage dealer.

Cenvattable duties / taxes  Basic Excise Duty.  CVD.  NCCD.  Education CESS.  Addl. Duty of Customs – Sec. 3(5).  Service Tax and CESS thereon.

Utilisation and Restrictions on utilisation  Payment of Excise duty.  Payment of Service tax.  Other payments.  Cross utilisation.

Other conditions.  Removal of inputs / capital goods - the story “as such”.  Capital goods – 50 % restriction.  No to “having the cake and eating it too - Depreciation / Cenvat Credit.

Other conditions.  Removal for job work.  Write off.  Service Tax Credit - Pay and use.  Documents for availing credit.

Rule 6 Algebra.  Position upto  Position from

Rule 6.  Protection to certain clearances.  Protected Services.  Chandrapur Magnet Wires (P) Ltd Vs CCE (81) ELT 3 SC - Recent developments.

Certain common disputes…  Credit for mobile phone. India Rayon Industries Ltd. Vs CCE 2006 (4) STR 79.  Credit for outdoor catering. Victor Gaskets India Ltd Vs CCE 2008 – TIOL – 409.

Certain common disputes…  Credit for outward transportation. - Gujarat Ambuja Cements Ltd. Vs CCE (6) STR India Cements Limited Vs CCE 2007 (8) STR Master Circular and recent amendments.

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