Payment terms. Post export incentives. We have IEC, can we export from all ports? What are the legal documents in exports. What does ECGC do on default of payment of any overseas buyer? Post shipment finance in Export Business.
Printing machine error with customs — Un able to hand over documents to carrier. When can an exporter release bill of lading from shipping company? When does exporter get EP copy of shipping bill after customs clearance. All capital goods are not eligible for credit and only those relatable to the output services would be eligible for credit. The towers are immovable property and non-excisable and hence can neither be regarded as 'capital goods' nor can be categorized as 'inputs.
Parle Products Pvt. Limited and not by the appellant. Cenvat credit of such service tax paid is not admissible to the appellant. Interest on Cenvat Credit- Liability to interest under Rule 14 of the Cenvat Credit Rules, read with Section 75 of the Finance Act, would arise only on that amount of cenvat credit, both debited in assessee's books of accounts and utilised taken for remittance of the assessee's tax liability.
Click here Consolidated instructions on compassionate appointment-Replacement of Para regarding. Click here Reminder-data collection on pending compassionate appointment applications-reg. Provided further that the CENVAT credit of the additional duty leviable under sub-section 5 of section 3 of the Customs Tariff Act, in respect of capital goods shall be allowed immediately on receipt of the capital goods in the factory of a manufacturer. Provided also that where an assessee is eligible to avail of the exemption under a notification based on the value of clearances in a financial year, the CENVAT credit in respect of capital goods received by such assessee shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year.
The manufacturer can take credit upto a maximum of one lakh rupees in the financial year , and the balance in subsequent years. Where any input or input service is used in the manufacture of final product which is cleared for export under bond or letter of undertaking, as the case may be, or used in the intermediate product cleared for export, or used in providing output service which is exported, the CENVAT credit in respect of the input or input service so used shall be allowed to be utilized by the manufacturer or provider of output service towards payment of,.
Provided that no refund of credit shall be allowed if the manufacturer or provider of output service avails of drawback allowed under the Customs and Central Excise Duties Drawback Rules, , or claims rebate of duty under the Central Excise Rules, , in respect of such duty; or claims rebate of service tax under the Export of Service Rules, in respect of such tax.
Provided further that no credit of the additional duty leviable under sub-section 5 of section 3 of the Customs Tariff Act shall be utilised for payment of service tax on any output service. Explanation : For the purposes of this rule, the words "output service which is exported" means the output service exported in accordance with the Export of Services Rules, Notwithstanding anything contrary contained in these rules, where a manufacturer has cleared final products in terms of notification of the Government of India in the Ministry of Finance Department of Revenue No.
Explanation: For the purposes of this rule, "duty" means the duties specified in sub-rule 1 of rule 3 of these rules. Provided that the CENVAT credit on inputs shall not be denied to job worker referred to in rule 12AA of the Central Excise Rules, , on the ground that the said inputs are used in the manufacture of goods cleared without payment of duty under the provisions of that rule.
Explanation I. Explanation II. CENVAT credit of inputs and input services lying in balance as on the date of exercising the option under this condition;. CENVAT credit attributable to exempted goods and exempted services for the whole financial year, determined as per condition c ,. Explanation III. Watch this video on cascading effects of erstwhile tax structure:. A value-added tax VAT is a consumption tax levied on a commodity whenever it adds value at any point in the supply chain, from production to sale.
The amount of VAT that the consumer pays is based on the cost of the product, minus any previously taxable costs of products used in the product. VAT was introduced to make India a single integrated market. However, it was introduced at state-level. CST applies on the sale of goods levied by the Central Government. It is collected and retained by the state where the tax is collected.
Designed to be a single, comprehensive, destination-based taxation concept, Goods and Services Tax GST unifies the entire country in terms of how the tax is collected.
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