INDIRECT TAX BENEFITS (excise duty in particular) ON DIRECT SUPPLIES TO SEZs made by a Vendor who is a sub-contractor of the Main ContractorIn relation to the subject matter, the mechanics of the transaction may be as under;The customer is RRR Ltd.,
RULE 3 (5B) of the CCR - Write-off or provision to write-off versus CENVAT Reversals, Analysis We refer to Sub-rule (5B) of Rule 3 of the CCR states that if the value of any: (i) input, or (ii) capital goods before being put
Section 145A shall be substituted for the existing section 145A by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010: Method of accounting in certain cases. 145A. Notwithstanding anything to the contrary contained in section 145, (a) the
The Honble Finance Minister Mr.P.Chidambaram has presented Union Budget 2013 in both the houses of Parliament on 28th February, 2013 at 11 Hrs sharp. There is no change in the rate of duties and accordingly the rates of Excise T
Sub-rule (5B) of Rule 3 of the CCR provides that if the value of any: (i) input, or (ii) capital goods before being put to use, on which CENVAT credit is taken is written off fully or partially or where any provision to write off fully or partia
Introduction of Negative List - Changes in Service Tax law effective 01.07.2012 1. INTRODUCTION 1.1 The Union Finance Minister announced implementation of a ne
Excise Duty & Customs Duty Exemptions for Supplies made to Mega Power Project. That all the equipment supplied for the setting up the mega power projects enjoys both customs and excise duty exemptions.
Indirect Tax I. Service Tax 1.1 Amendments to be effective from 1 April 2012 1.1.1 Change in Rate of Tax Rate of service tax has been increased to 12.36 percent (including Education Cess and Secondary & Hi
Reversal of Input Service Credit in case of service Debtors written off in the books of accounts A. Insofar, there is no provision in the CC Rules for reversal of input service credit in case services Debtors are written-off. B. For
INVENTORIES defined and read in terms of Rule 3 (5B) of CCR; Inventories are assets (current assets) which encompass a) RAW MATERIALS held for use in the production process or in rendering of services b) Stores, maintenance suppli
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)