Articles by Ashish Chaudhary

View Full Profile

Cenvat Credit disclosure in ST return-Practical Aspects: Part 2

Ashish Chaudhary 20 October 2015 at 11:05

In the previous article, we had discussed regarding availment of credit while filing of ST-3 Return. It has been very encouraging to receive large number of queries on various aspects related to service tax return filing. To continue the series, in t

Posted in Service Tax | 2 comments | 20265 Views

Cenvat credit disclosure in ST return- Practical aspects- Part 1

Ashish Chaudhary 14 October 2015 at 10:40

Tax credit in any value added taxation is the second most important aspect after the levy as it goes to reduce the basic cost. If credits are not available fully, it adds to the cost of the product or service resulting in cascading effect of taxes. I

Posted in Service Tax | 2 comments | 14811 Views

Avoiding common errors in filing of service tax return

Ashish Chaudhary 03 October 2015 at 13:20

Self assessment under service tax has been started in the year 2001. In any self assessement taxation system, the onus is on the assessee to make true disclosure of all statutory information required to be disclosed. Non/wrong disc

Posted in Service Tax | 3 comments | 31188 Views

Impact under GST on Job work transactions

Ashish Chaudhary 06 September 2015 at 19:16

Goods and Service Tax (GST) upcoming in India is likely to result in widening the tax base substantially by covering large number of potential taxpayers who are hitherto not covered in th

Posted in GST | 4 comments | 11232 Views

GST Transitional Challenges: Ongoing service contracts

Ashish Chaudhary 01 September 2015 at 10:33

India is on behest of implementing Goods and Service Tax (GST) which is said to be biggest tax reform since Independence. One impor

Posted in GST | 3 comments | 10698 Views

Disputed inputs service credits

Ashish Chaudhary 19 August 2015 at 10:34

The concept of set off where an assessee adding value is able to set off the taxes on his purchases, is an important one which enables one to avoid the cascading effect of ta

Posted in Service Tax | 10671 Views

Neutralise artificial restrictions under Cenvat Credit Rules

Ashish Chaudhary 18 August 2015 at 16:45

Cenvat Credit scheme is designed to avoid cascading effects but it has been seen over a period that the government has been diluting the basic philosophy of the rule by introducing many arbitrary restrictions. This has been done to augment reve

Posted in Service Tax | 7191 Views

ST return scrutiny: How to combat

Ashish Chaudhary 14 July 2015 at 10:58

Service Tax has been most targeted area of Central government for garnering revenue and it has been constantly undertaking measures to pluck the revenue leakage. One such measure has b

Posted in Service Tax | 3 comments | 14031 Views