cenvat credit summary


11 incentives given by Govt for promotion of digital and cashless economy

In the aftermath of the cancellation of the legal tender character of old Rs 500 and Rs 1 000 notes there has been a surge in the digital transactions through use of credit debit cards and mobile phone applications e wallets etc To further accelerate this process the Central Government has decided o

Govt waives service tax for payment made below Rs 2000 by card

Government waives service tax charged while making payments through credit card debit card charge card or any other payment card waiver limited to payments up to Rs 2 000 in a single transaction When a customer uses a credit card debit card charge card or any other payment card for payment of his pu

RBI Announces Measures to Manage Liquidity Conditions

With the withdrawal of the legal tender status of 500 and 1 000 denomination bank notes hereafter referred to as Specified Bank Notes SBNs beginning November 9 2016 there has been a surge in deposits relative to the expansion in bank credit leading to large excess liquidity in the system The magnitu

Nomination for Membership at the International Accounting Standards Board

International Accounting Standards Board IASB is seeking applications for vacancies in the Board A IASB position summary The International Accounting Standards Board is the independent standard setting body of the IFRS Foundation Members of the Board represent the best available combination of techn

Big Boost to Ease of Doing Business- Passing of Bankruptcy Code

Big Boost to Ease of Doing Business Passing of Bankruptcy Code Code is a comprehensive and systemic reform which will give a quantum leap to the functioning of the credit market and would take India from among relatively weak insolvency regimes to becoming one of the worlds best insolvency regimes V

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Experts Opinions

Backup for service tax credit

Does after filling of ER1 or ST3 return do assessee require to submit detail invoice wise backup regarding availment of service tax return to Excise Department

Adjust sundry creditor debt balance

respected sir i purchase good from m s xyz for rs 1000 and he supply shortage good to me rs 800 how i debit the balance of m s xyz at tally and under which head i show show shortage purchase in tally

Vat credit

Dear sir We are a partnership firm and register under restaurant composition scheme of MVAT now we are starting new activity of scrap trading in the same name reg no but on other place regarding input credit of MVAT can we take credit of purchase in newly started activity of scrap sale Regards Vaibh

Gta service tax credit issue

we are mfg exciseable SSI unit in Gujarat we mfg LED television and sale under MRP base excise Charges in invoice we have dispatch goods factory to buyer premises through local Tempo and freight loading unloding charges paid by mfg company more than 2500 freight 1200 loading unloading charges my que

Cenvat taken

can we take service tax input on repair and maintaince of machinery or machinery parts which used in production purpose in manufacturing unit


credit card expense

i used my fathers credit card for my leisure trip can those expences be shown in my individual return

Membership as a credit information company(cic) for a nbfc

I want to know about the fees and other registration process in details for taking membership certificate as Credit Information company The membership is required for a NBFC company As per RBI notification no RBI 2014 15 458 DNBR PD CC No019 03 10 01 2014 15 dated 6th February 2015 all NBFC company

Cenvat on capital goods for ssi units

A SSI unit paid Rs 10 lakhs for capital goods purchased in March 2014 The Unit crossed the limit of 1 5 crores in Jan 2015 Till Jan 2015 the Unit has filled nil quarterly return for previous3 quarters of 2015 2016 and hence no information is given to Excise Deptt regarding duty paid on capital goods

Cenvet credit

I have a mobile repair service centre In which service and sales both are involved I want to know that how can I take the cenvet credit on mobile and landline bills I paid for my centre Is any restriction or not

Can we claim vat input credit on filled cylinders in manufacturing industries


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Super Summary of RBI circulars of demonetization

Provision of Exchange Facility of SBN 08 11 2016 RBI 2016 2017 112 The SBN of aggregate value of 4 000 or below may be exchanged for any denomination of bank notes having legal tender character with a requisition slip in the format specified by the Reserve Bank and proof of identity Reporting Mechan

Input Tax Credit in GST Simplified Version

Input Tax Credit Input tax has been defined in section 2 57 of the MGL and section 2 1 d of the IGST Act Input tax in relation to a taxable person means the IGST and CGST in respect of CGST Act and IGST and SGST in respect of SGST Act charged on any supply of goods and or services to him which are u

How these credit facilities make you fall prey for the debt trap?

Lifes little surprises always bank on credit facilities Raj a 35 year old executive built his dream house which he financed through credit To meet his new lifestyle requirements he went on a spending spree adding more electronics to his foray through his credit card Little he did realize that his de

All about Foreign Tax Credit

All about Foreign Tax Credit and its Indian Context Preamble Corporate India today serves global needs and brings in overseas income which is chargeable to Indian tax net as a resident of India Flip side of this paves way for claim for taxes paid at foreign jurisdiction based on the source of income

Section 68 unexplained cash credits

The detailed analysis Applicability This section is applicable to all the assessees The amount is credited in the books of the assesses The assessee has no explanation about its nature or source or the explanation provided is not satisfactory Than the amount credited is treated as the income of the

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Updated on : 1/15/2017 9:40:14 AM





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