Articles by Venkatanarayana GM

Benefit of all industry drawback under FTP

Posted by Venkatanarayana GM 20 May 2020 2693 Views

Ministry of commerce implements and monitors the Foreign Trade Policy (FTP) framed for export and import transactions. FTP provides the basic framework of policy and strategy to be followed for promoting exports and trade.

Updates under Central Excise & Service Tax

Posted by Venkatanarayana GM 30 October 2014 37268 Views

Important Updates under Excise - October 2014 Board has come up with the clarity that, determination of place of removal which is recently defined in Cenvat Credit Rules 2004., inserted by way of notification no 21/2014 C.E (NT) date

Cenvat implication on Sales rejection

Posted by Venkatanarayana GM 17 October 2014 29477 Views

It is normal that, excise duty paid goods are received back into the factory on account of , not needed presently, rejected, etc.. As per Rule 16 of Central Excise Rules 2002, the Cenvat credit of excise duty paid on such goods returned can be avai

Cenvat Ready recknor

Posted by Venkatanarayana GM 25 August 2014 9264 Views

Present article is designed for discussion of eligibility or ineligibility of Cenvat Credit on input, input services and capital goods to manufacturers and service providers. Discussed provisions are general in nature for the help of readers and may

Acounting for Cenvat

Posted by Venkatanarayana GM 12 October 2012 22532 Views

Introduction: Accounting under service tax is one of the important aspects for the assesses in the organization . In this article we would like to highlight some important basic accounting entries with regard to service tax. So that, the organi

Taxation on negative list of services

Posted by Venkatanarayana GM 27 January 2012 24111 Views

Introduction: Finally the ministry of finance in India is moving ahead in reducing ambiguous and unnecessary litigation in the field of service tax. Service tax is the major source of revenue to the government which is contributing nearly more tha