Professional Opportunities - Excise on Jewellery World
Posted Date : 31-Mar-2016 , 07:19:12 pm | Posted By
Darshan Jain
The scheme of levy and collection of Central Excise duty on articles of Jewellery is as under:
(a) The levy and collection of Central Excise Duty is on the manufacture of Jewellery (excluding silver Jewellery, not studded with diamonds, ruby, emerald or sapphire).
(b) It is applica...
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Category : Excise |
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Clarifications on Excise imposed on Jewellery
Posted Date : 09-Mar-2016 , 12:24:38 pm | Posted By
Darshan Jain
Clarifications on Excise imposed on Jewellery
The strike by bullion traders and jewellers continued for the 8th day to protest the Budget proposal to impose one per cent excise duty(without input tax credit) on Jewellery, despite the Centre's assurance that it would look into the issue. Most...
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Category : Excise |
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No bar on admissibility of Cenvat credit either as Inputs or Capital goods at any stage of proceedings
Posted Date : 18-Feb-2016 , 06:35:02 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
No bar on admissibility of Cenvat credit either as Inputs or Capital goods at any stage of proceedings
We are sharing with you an important judgment of the Hon’ble CESTAT, Kolkata in the case of Tata Steel Ltd. Vs. Commissioner of Central Excise, Jamshedpur [(201...
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Category : Excise |
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Cenvat credit admissible on services of sales commission agent
Posted Date : 13-Feb-2016 , 04:07:18 pm | Posted By
CA Bimal Jain
Cenvat credit admissible on services of sales commission agent Background: Even though the definition of ‘input services’ given under Rule 2(l) of the Cenvat Credit Rules, 2004 (“the Credit Rules”) covers the services of sales promotion in its inclusive part, eligibility t...
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Category : Excise |
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Cenvat credit on input services availed prior to initiation of manufacturing activity is admissible
Posted Date : 16-Dec-2015 , 09:36:51 pm | Posted By
CA Bimal Jain
Cenvat credit on input services availed prior to initiation of manufacturing activity is admissible
Shree Cement Ltd. Vs. Commissioner of Central Excise, Jaipur [2015 (63) taxmann.com 151 (New Delhi - CESTAT)]
Facts:
The Department denied the Cenvat credit...
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Category : Excise |
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Interest expenditure, depreciation and profit margin not be taken into consideration for arriving at the cost of production
Posted Date : 30-Nov-2015 , 09:50:54 am | Posted By
CA Bimal Jain
Interest expenditure, depreciation and profit margin not be taken into consideration for arriving at the cost of production
C.C.E., Vadodara-I Vs. Nirma Ltd. & Ors. [2015 (11) TMI 605 - SUPREME COURT]
Nirma Ltd. & Ors. (“the Respondent”) was engaged in the manufacture of Li...
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Category : Excise |
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Refund claim is allowed even if the claim is not filed on letter head
Posted Date : 29-Nov-2015 , 09:30:17 am | Posted By
CA Bimal Jain
Refund claim is allowed even if the claim is not filed on letter head and further, the question of foreign exchange realization does not arise in case of export of goods as free replacement of defective goods
Commissioner of Central Excise, Raipur Vs. Simplex Engineering & Foundary Works P. Ltd...
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Category : Excise |
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Cenvat credit towards exempted goods (Man Structural Pvt. Ltd. Vs. C.C.E. & S.T. Jaipur-I )
Posted Date : 28-Nov-2015 , 08:12:33 am | Posted By
CA Bimal Jain
When Cenvat credit towards exempted goods has been reversed after audit objection but before issuance of SCN, penalty under Section 11AC of the Excise Act read with Rule 15 of the Credit Rules is not imposable
Man Structural Pvt. Ltd. Vs. C.C.E. & S.T. Jaipur-I [2015 (11) TMI 664 - CESTAT NEW...
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Category : Excise |
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Principal manufacturer eligible to take credit of duty so paid by job-worker
Posted Date : 13-Nov-2015 , 04:21:32 pm | Posted By
CA Bimal Jain
Principal manufacturer eligible to take credit of duty so paid by job-worker
Commissioner of Central Excise, Chennai-III Commissionerate Vs. Sundaram Auto Components Ltd. [2015 (62) taxmann.com 242 (Madras)]
The Department has denied credit of duty paid by job-worker to Sundaram Auto Component...
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Category : Excise |
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Excise duty Rebate admissible on both inputs and final products
Posted Date : 14-Oct-2015 , 04:07:44 pm | Posted By
CA Bimal Jain
Excise duty Rebate admissible on both inputs and final products
We are sharing with you an important judgment of the Hon’ble Supreme Court in the case of Spentex Industries Ltd. Vs. Commissioner of Central Excise [2015 (10) TMI 774 - SUPREME COURT] on following issue:
Issue:
Wheth...
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Category : Excise |
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No denial of refund on non-realisation of export proceeds
Posted Date : 30-Jul-2015 , 02:48:31 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
No denial of refund on non-realisation of export proceeds
We are sharing with you an important judgement of the Hon’ble CESTAT, Delhi in the case of P&P Overseas Vs. Commissioner of Central Excise, Delhi-III [(2015) 59 taxmann.com 226 (New Delhi - CESTAT...
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Category : Excise |
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0 | Hits : 489 |
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Guidelines for detailed scrutiny of Excise Returns issued by CBEC
Posted Date : 23-Jul-2015 , 06:11:30 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Guidelines for detailed scrutiny of Excise Returns issued by CBEC Background: The Central Board of Excise and Customs (“CBEC” or “the Board”) vide Circular No. 185/4/2015-ST dated June 30, 2015 had laid down the procedure for carrying out detai...
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Category : Excise |
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Credit is admissible even if Inputs are discarded during manufacturing process
Posted Date : 13-Jul-2015 , 07:03:12 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Credit is admissible even if Inputs are discarded during manufacturing process We are sharing with you an important judgement of the Hon’ble Apex Court in the case of Union of India Vs. Asahi India Safety Glass Ltd [(2015) 58 taxmann.com 237 (SC)] on the f...
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Category : Excise |
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CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records
Posted Date : 07-Jul-2015 , 01:36:47 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records Background: The Service Tax Rules, 1994 (“the Service Tax Rules”) were amended vide Notification No. 5/2015 – ST dated March 1, 2015 to insert Ne...
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Category : Excise |
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Export benefits cannot be denied even when export proceeds are not realized
Posted Date : 03-Jul-2015 , 06:50:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Export benefits cannot be denied even when export proceeds are not realized We are sharing with you an important judgement of the Hon’ble CESTAT, New Delhi in the case of Commissioner of Central Excise, Delhi-III Vs. Shyam Telecom Ltd. [(2015) 58 taxmann.com 117 ...
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Category : Excise |
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SC upholds plea of revenue neutrality in case of captive consumption to set aside invocation of extended period
Posted Date : 13-Jun-2015 , 12:03:32 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, SC upholds plea of revenue neutrality in case of captive consumption to set aside invocation of extended period We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of Nirlon Ltd. Vs. Commissioner of Central Excise, Mumbai [(201...
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Category : Excise |
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Refund of excess Excise duty permissible on reduction in contract price after clearance of goods from factory
Posted Date : 25-May-2015 , 07:05:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Refund of excess Excise duty permissible on reduction in contract price after clearance of goods from factory We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of HPL Socomac Ltd. Vs. Commissioner of Central Excise, Gurgaon [...
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Category : Excise |
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Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers
Posted Date : 01-May-2015 , 07:49:06 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers The Lok Sabha passed the Finance Bill, 2015 which includes various tax proposals presented in the Union Budget, 2015, by a voice vote on Thursday, April 30, 2015. The Hon’...
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Category : Excise |
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Interest on delayed refund is permissible from expiry of 3 months
Posted Date : 21-Feb-2015 , 12:33:47 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order We are sharing with you an important judgment of Hon’ble CESTAT, Ahmedabad, in the case of Tata Chemicals ...
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Category : Excise |
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Cenvat credit cannot be denied by holding that the activity is not 'manufacture', when the Department had accepted the Excise duty liability on final products
Posted Date : 29-Jan-2015 , 02:41:14 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Cenvat credit cannot be denied by holding that the activity is not 'manufacture', when the Department had accepted the Excise duty liability on final products We are sharing with you an important judgment of Hon’ble CESTAT, Mumbai, in the case of Foam Techniques ...
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Category : Excise |
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