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CENVAT CREDIT
SC rules in favor of telcos, allows Cenvat credits on infrastructure dutiesThe Supreme Court gave a favorable decision for telecom companies. The court said that these companies can claim tax credits on telecom inf...- HC upholds CESTAT's ruling in favour of oriental insuranceThe department, in its appeal, argued that the insurance company was wrongfully availing credit in respect of service tax paid on reinsuran...
- CESTAT nod for ₹253-crore Central VAT credit to Jio"...telecom towers in the present case are not immoveable property, and since immovability of such towers was the only ground for rejection...
- Taxman seeks reversal of Cenvat credit on financial investments by companiesTax experts said previous rulings allowed companies to have a combined Cenvat credit. However, there were also some rulings that allowed su...
- Government should reconsider imposition of Krishi Kalyan CessCredit of such cess shall be allowed as Cenvat credit for payment of cess by a service provider. However, manufacturing units will be unabl...
- Budget 2013: AIIFA proposes deemed credit of duty on steel scrap for availing CENVAT creditThe All India Induction Furnaces Association (AIIFA) has proposed deemed credit of duty on steel scrap for availing CENVAT credit for consi...
- Branded garment cos to get cenvat creditIn a relief to the branded garments industry, which has been slapped a 10% excise levy in the budget, the government has decided that the s...
- Budget 2011: OPPI demands rationalisation of excise duty rates of APIThe higher rate of duty paid on inputs has led to accumulation of Cenvat Credit in the books as the complete amount of duty paid on inputs ...
- Budget 2011: PETROFED recommends reduction of custom duty on imported crude to nilPetroleum Federation of India (PETROFED) has recommended reduction of custom duty on imported crude to nil.
- No Cenvat credit on excise-duty exempted broken bottles: CBECThe manufacturers of bottled beverages will no more be able to retain the Cenvat credit or the tax set-off paid on inputs, claimed on broke...
- Cos to pay interest on incorrect Cenvat creditCompanies will have to bear interest on any cenvat credit wrongly taken even if it is not utilised, according to the Central Board of Excis...
- CBEC allows cos to carry forward Cenvat creditA Central Board of Excise & Customs circular, clears the air on utilisation of Cenvat credit and is expected to lead to saving of crores of...
- Outdoor catering & Cenvat creditA larger bench of the Service-Tax Tribunal has held that the service provided by an outdoor caterer, in the canteen of a manufacturer, with...
- Centre finetunes Cenvat rules for manufacturing, service cosManufacturers and service providers will now be liable to pay duty if capital goods, on which Cenvat credit has been taken, are removed aft...
- Tax to be paid if CGs sold after taking cenvat creditManufacturers and service providers will now be liable to pay duty if capital goods (CGs) on which cenvat credit has been taken are removed...
- It’s time to rethink excise exemptionsBharat Sanchar Nigam Ltd’s decision to evaluate its purchase options, adjusting price for available cenvat credit, has thrown a host of sma...
- Cos can claim service tax on mobiles as CenvatCompanies can now claim the service tax they pay on cellphones as Central value-added tax (Cenvat) credit.
- MoF on Cenvat credit trail, asks 4,000 firms for detailsThe Finance Ministry has decided to scrutinise Cenvat credit offtake by companies in these sectors to check misuse.
- Cenvat credit for textiles may goThe special Budget package for the textile sector assured by the Finance Minister is likely to comprise abolition of deemed Cenvat credit, ...
- Ficci submits suggestions to finmin to modify Cenvat rulesTHE Federation of Indian Chambers of Commerce and Industry has submitted a six-point strategy to the finance ministry to modify Cenvat rule...
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