#ca raman singla

[taxgurusandeep]

DEVIL ARRIVES - Amendment in Cenvat Credit Rules’ 2004

DEVIL ARRIVES – Amendment in Cenvat Credit Rules’ 2004

1. Rule 4(1) of Cenvat Credit Rules’ 2004 amended with major impact (applicable e.f. 1st Sept’ 2014)

This rule specifies condition for taking cenvat credit on Inputs. New proviso has been added in this rule which states as follows – (more…)

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[taxgurusandeep]

Cenvat Credit on GTA Service- A dilemma solved

Cenvat Credit on GTA Service- A dilemma solved

Goods Transport Agency (GTA) service is a misconception since its inception. The light of mess ignites more with its coverage under reverse charge mechanism.

As per the provisions applicable for GTA Service,

This service is covered under Reverse Charge Mechanism; therefore, the service tax liability is to be paid by the service recipient that being a manufacturer or a Service provider.

There is…

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[taxgurusandeep]

Gist Of All Amendments In Indirect Tax Made By Budget 2014

Gist Of All Amendments In Indirect Tax Made By Budget 2014

GIST OF ALL AMENDMENTS IN INDIRECT TAX MADE BY BUDGET 2014

AMENDMENTS IN SERVICE TAX Amendment in Act

      Finance Act’ 1994

(Applicable from the enactment of Finance Bill. Section 65B, 66D and 67A to be given effect from the date to be notified by CG)

1. Section 65B – Definition of Metered Cab and Print media changed.

2. Section 66D – Two Services of negative list amended.

Post amendment

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[taxgurusandeep]

Are You under the scanner of Excise and Service Tax Department?

Are You under the scanner of Excise and Service Tax Department?

A new section 15A has been inserted in the Central Excise Act’ 1944 w.e.f. the date of the applicability of the Finance Bill’ 2014. Further, this section has also been made applicable for Service Tax Law by virtue of Section 83 of Finance Act’ 1994.

This is known as Information Return. A new concept of collecting information of Tax evaders of Indirect taxes. (more…)

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