Blogs

Department of Commerce, vide notification No.34/2015-20 dated 29-01-2016 had simplified the IEC application procedure with effective from the date of the said notification.  

Central Government issued the above notification to amend the existing para 2.05 (c) of Foreign Trade Policy (2015-20) and further introduces a new provision, part (d) under para 2.05.   

Existing policy: following are the requisite details /documents (scanned copies) to be submitted/ uploaded along with the...

SUPREME COURT

1. Word “include” in the definition of Inputs under Section 2(g) of CCR, 2002 gives a wide interpretation (RamalaSahkariChini Mills Ltd, UP Vs CCE 2016-TIOL20-SC-CX-LB)
   • Background: Assessee is availing Cenvat credit on welding electrodes used in maintenance of machine. Department disallowed the credit on ground that welding electrodes do not fall under the definition of input.Assessee contended that it is covered under inclusive part of definition and hence...

In this note a brief explanation has been provided w.r.t to payment of service tax on TDS portion in respect of import of services to make it clear for the assessee to understand liability of service tax on TDS portion in case of import of services.     

In case of few specified services, service receiver has been made liable for payment of service tax as per Section 68(2) of Finance Act 1994 read with Rule 2(1)(d)(G) of Service Tax Rules 1994. As per Rule 2(1)(d)(G), ...

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...