Blogs

The very reason beyond introducing rule 6 in Cenvat Credit Rules 2004 could be that, not to extend the benefit of Cenvat credit to a manufacturer or service provider who is engaging in manufacture or providing of exclusively exempted goods or services as the case maybe.  

However, here a situation could be that, an assessee is adopted practice of not availing credit of input/input service which are used for manufacture or providing of exempted goods/services. In such cases, what...

Government of India in line with its ‘Make in India’ initiative, constituted a task force to examine various issues that are causing worries for the domestic medical device sector.    

Further based on the recommendations made by the said task force regarding the rationalization of custom duty structure so as to promote domestic manufacturing of medical devices, GOI has come up with the notifications 4/2016-Cus dated 19.01.2016 by amending serial number 473 and 474 of Notification...

Introduction   

CBEC with an intention to appropriately administer the tax collection has introduced Annual Information Return (AIR) under Central Excise and Service tax provisions. Presently the system of AIR is being used extensively under Income tax and now the same being extended under indirect tax regime as well.    

Vide notification no.04/2016 dated 15.02.2016, CBEC has introduced Service Tax and Central Excise (Furnishing of Annual Information Return) Rules,...

World economy over last few years has been very sluggish and more so Indian economy. The impact on Indian economy could be witnessed in the form of declining exports from India. This requires stimulus from government in one way or another.   

One way of reducing burden of tax on export has been to grant refund of service tax under Notification No. 41/2012-ST on services used in relation to export of goods outside India. The refund was allowed in relation to taxable services used beyond...