cenvat credit summary

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Payment of Wages by cheque or crediting to bank accounts


The present wage limit for applicability of the provisions of the Payment of Wages Act 1936 is Rs 18 000 per month The Act has been amended by Payment of Wages Amendment Act 2017 effective from 28 12 2016 to enable the employers to pay wages to their employees by a cash or b cheque or c crediting to

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

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Experts Opinions

Input credit on machine purchase


Sir can be claim vat input credit on purchase of Batch code machine rs 41410 for batch code printing not for resale only use for manufacturing products and purchase within state and bill as tax invoice Kindly suggest me

Cenvat credit


Dear Sir We are running two units one is biscuit and other is cartoon as separate branches of same company In Biscuit unit 80 finished goods is exempted and 20 is taxable 100 cartoon units finished goods is taxable Presently cartoon unit s provide cartoon to the biscuit unit by way of Excise cum tax

sebi ICDR summary


hii does any1 have summary of sebi ICDR regulation 2009 which is applicable for CA final may 2017 plz share

Service tax credit


We are doing manufacturing activity and we also receives Sales Commission from our Foreign Associates to the tune of 3 to 5 on the sales made by the Foreign Associates in Asian Teritorry Under RCM we are liability to Pay Export Service Tax on such commission receipts Please advise whether we can cla

Accounting of cash credits in balance sheet?


An assessee availed a CC Limit of 15 lacs against mortgage of property Balance on 31st March in CC Account shows 13 5 lacs How much to show under Liability 1 5 lacs CC utilised to be shown under Liab Under which head Current Liability or Long Term Loans Does CC limit of 13 5 lacs UNUTILISED needs to

Discussion

how treated as debite note and credit note in Gst

how treated as debit note and credit note in Gst

Can we take cvd and sad credit on this transaction.

Hi We have imported a machinery in our GUJRAT PLANT and it got installed out there too The shipping documents was also in favour of our GUJRAT Plant but due to some clerical mistake the address on Bill of entry was mentioned of our PUNE PLANT instead of our GUJRAT PLANT where the machinery is import

Service tax input credit

Can we take service tax input credit for an invoice dated 1 10 2015 now

Rule of avail cenvat credit on return material form manufacure to 1st stage dealer after 6 month

We had supplied material from our 1st stage dealer to manufacture after 6 month they return material with purchase return invoice mention excise duty My Question is can you take credit on return matarial after 6 month what document required for

Accounting of cash credit in balance sheet?

An assessee availed a CC Limit of 15 lacs against mortgage of property Balance on 31st March in CC Account shows 13 5 lacs How much to show under Liability 1 5 lacs CC utilised to be shown under Liab Under which head Current Liability or Long Term Loans Does CC limit of 13 5 lacs UNUTILISEDneeds to

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Articles

Cenvat credit on deposits insurance - Banks v/s Departments


Introduction Banks are registered under service tax in the category of Banking and Financial Services They collect and pay service tax on its various incomes such as commissions bank charges documentation charges processing fees etc levied on its customers However one of the major revenue earned by


Input Tax Credit under GST


In the Current Tax Regime Various conditions are applicable for availing input tax credit A brief overview is given below VAT As a VAT dealer you can avail credit of VAT paid on goods purchase in course of business for re sale or for manufacture of goods subject to some conditions Only purchase made


GST from the input tax credit perspective


Changes are subtle and then only it is natural GST finally appears to have arrived after lots of discussion within and outside parliament All changes are required to be encouraged and so let us welcome GST Model GST law as declared by GST Council Secretariat is available now and in this paper I will


Seamless GST credit not so seamless after all


It is thesecond article in the series dealing with the issues of input tax credit GST is expected to allow seamless flow of input tax credit to the registered taxable person but taking into consideration the provisions of Revised Model Goods and Service Tax Law hereinafter referred to as RMG it stil


Cash credits and its treatment under income tax act, 1961


CASH CREDITS UNDER INCOME TAX ACT 1961 Section 68 of the Income Tax Act 1961 provides that there has to be credit of amounts in the books maintained by the assessee that such credit has to be of a sum during the previous year and that the assessee offers no explanation about the nature and source of


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Updated on : 3/25/2017 11:11:15 AM


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