hi,

what is the present limit for service tax exemption and limit for registration? where will I get the whole text?

and within what period revised return can be filed under service tax.

thanks and regards

sonika

What is the meaning of Bought Out Items which is includible in the Assessable Value of goods? Give Examples....

We are importer of Computer Hardwares. We pay following duties of cutoms on value of the imports.

Counter vailing duty
Additional duty of custom
Duty handling fee
Education cess
S.tax 12.00 %
Education cess 2.00%
Higher education cess 1.00%

We sell these products in India after charging VAT on the same. We also provide services in connection to installation of these components to the client and charge separately for that alongwith Service tax.

We want to know that Can we claim the benefit of any of the above custom duties paid against the service tax and if yes, under which head?

We have also come to know that we can pass on the benefit to claim the CVD to the customer if we raise the CENVATable invoice. This invoice can be raised only if we are registered under Central Excise Act as ‘First Stage Dealer’. Please let us know the procedure of registration and implications of the registration. What all are the records that we need to maintain if we register as First Stage dealer? What are the other related rules for ‘First Stage Dealers’? and what other benefits/disadvantages are there? What all returns are required to be filed after registration?

Can my customer claim CVD back in cash or he can take only set-off against the excise duty/service tax? Do we need to disclose the original import invoice to our customers? If he customer is in SEZ who does not have any duty liability, can he claim the CVD back in cash?

Is there any other way, such as at the time of importing we can directly endorse the invoice in the name of customer and he can claim CVD back?

If the Hardware Components purchased by the customer is capitalized by the customer, then what is the accounting treatment he should do? Can he claim depreciation benefit on the whole amount of capital purchase? And claim duty ?

Does he have to claim duty in phases over 2 years (i.e. 1st year 50% and rest in 2nd year?)

Is there any other harm in claiming duty back, such as if we do not claim the benefit of credit, we get depreciation deduction under income tax @ 33.99% of depreciation amount?

Is there any duty of custom that we/our customer can claim back? What is the rationale behind giving back this credit by the government?


Please answer this as soon as possible.... It is very very urgent.

Query no 1: Cenvat credit eligible for dta clerances by EOU/STP/EHTP as per cenvat credit rule 3 is

Assessable value * (1+BCD/400) * (CVD/100)

This formula holds good when there was an exemption of 75% of customs duty for such DTA clearances. But according to notification no 10/2008, customs duty exempted is only 50%. In this situation the credit calculated using formula given in rule 3 does not hold good as it considers the old exemption of 75%. In my opinion the formula should be

Assessable value * (1+BCD/200) * (CVD/100) What stand should i take in this situation ?

Query no 2: In the above formula (as per rule 3) , education cess and SHEC on (BCD+CVD) is not considered for the purpose of taking credit. It is apt by not considering BCD for the purpose of cenvat credit as it is not available as per rule3. But why EC and SHEC are not considered , as credit is also available on them as per rule 3 ????

HI ALL

CAN ANYONE GIVE ME FORMAT OF RG 23A-I

Whether preferential recovery of statutory dues in case of loss making company is correct.
For e.g.:-
A company has made loss in any particular year. They have deposited excise duty @ Rs. 200 pt. in advance.

Cost of Production Rs. 800 pt
Excise Rs. 200 pt

Total Cost Rs.1000 pt

But they have recovered only Rs. 700 pt for these goods from consumers.


Therefore company has claimed refund of excise duty from Government but they have rejected company’s claim.
Contention of the company is that even they have not recovered cost of production from these goods so how can they recover Excise duty from consumers.
Whether the contention is correct or not, if your opinion is in our favour of the company then please suggest the valid grounds for this and if mentioned in law then please provide
details.

Excisable goods manufactured or produced in SEZ removed to DTA(Domestic tariff area) attracts any duty or exempted ?
so many authers talk about 100%EOU only.no boday has refferred about the SEZ.
can any one please explain in detail?

Whether the definition of capital goods under excise and VAT are similar?if differ,in what way it differs?

Hello! Friends,

Please intimate whether re-packing or re-filling of excisable goods come under central excise manufacturing.

If it comes under which rule/act/notification, please intimate.

Thanks

Ganesh

Respected Experts,

My company has two units in the same city. One is manufacturing unit and is registered under Excise & Service tax act. The Other unit is unregistered and is only exclusively doing job work of heat treatment for its first unit.(1) How can the heat treatment unit get excise duty claim on purchase of its Plant & Machinery and other process inputs received from excisable units? (2) Whether service tax is not applicable on job work invoices issued to its manufacturing unit, though exceeding the limits? What should be the best course of action.

Regards,