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Articles by Manoj Pala

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Indirect tax benefits on direct supplies to SEZs

  Manoj Pala    27 June 2015 at 17:30

INDIRECT TAX BENEFITS (excise duty in particular) ON DIRECT SUPPLIES TO SEZs made by a Vendor who is a sub-contractor of the Main ContractorIn relation to the subject matter, the mechanics of the transaction may be as under;The customer is RRR Ltd.,

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Posted in Service Tax  1 comments |   17871 Views


RULE 3 (5B) of the CCR - Write-off or 'Provision to write-off' versus Cenvat Reversals, Analysis

  Manoj Pala    31 May 2013 at 11:53

RULE 3 (5B) of the CCR - Write-off or provision to write-off versus CENVAT Reversals, Analysis We refer to Sub-rule (5B) of Rule 3 of the CCR states that if the value of any: (i) input, or (ii) capital goods before being put

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Posted in Service Tax  4 comments |   43119 Views


Section 145A of the Income Tax Act

  Manoj Pala    23 April 2013 at 12:09

Section 145A shall be substituted for the existing section 145A by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010: Method of accounting in certain cases. 145A. Notwithstanding anything to the contrary contained in section 145, (a) the

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Posted in Income Tax  2 comments |   375987 Views


Union Budget 2013 - Changes

  Manoj Pala    02 March 2013 at 12:40

The Honble Finance Minister Mr.P.Chidambaram has presented Union Budget 2013 in both the houses of Parliament on 28th February, 2013 at 11 Hrs sharp. There is no change in the rate of duties and accordingly the rates of Excise T

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Posted in Others |   17025 Views


Reversal of Cenvat Credit if inputs/capital goods are partially or fully written off: Rule 3 (5B)

  Manoj Pala    29 September 2012 at 11:27

Sub-rule (5B) of Rule 3 of the CCR provides that if the value of any: (i) input, or (ii) capital goods before being put to use, on which CENVAT credit is taken is written off fully or partially or where any provision to write off fully or partia

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Posted in Others  3 comments |   77604 Views


Introduction of Negative List - Changes in Service Tax law

  Manoj Pala    26 July 2012 at 12:53

Introduction of Negative List - Changes in Service Tax law effective 01.07.2012 1. INTRODUCTION 1.1 The Union Finance Minister announced implementation of a ne

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Posted in Service Tax  10 comments |   154107 Views


Excise Duty & Customs Duty Exemptions for Supplies

  Manoj Pala    07 June 2012 at 17:16

Excise Duty & Customs Duty Exemptions for Supplies made to Mega Power Project. That all the equipment supplied for the setting up the mega power projects enjoys both customs and excise duty exemptions.

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Posted in Others  3 comments |   48774 Views


Budget 2012 - Indirect Tax (Excise and Service tax)

  Manoj Pala    22 March 2012 at 16:20

Indirect Tax I. Service Tax 1.1 Amendments to be effective from 1 April 2012 1.1.1 Change in Rate of Tax Rate of service tax has been increased to 12.36 percent (including Education Cess and Secondary & Hi

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Posted in Others  7 comments |   57918 Views


Input Service Credit vis-a-vis Services Debtors Write-off

  Manoj Pala    10 August 2011 at 12:53

Reversal of Input Service Credit in case of service Debtors written off in the books of accounts A. Insofar, there is no provision in the CC Rules for reversal of input service credit in case services Debtors are written-off. B. For

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Posted in Service Tax  2 comments |   18240 Views


Inventories defined and Rule 3 (5B) of CCR

  Manoj Pala    05 August 2011 at 14:39

INVENTORIES defined and read in terms of Rule 3 (5B) of CCR; Inventories are assets (current assets) which encompass a) RAW MATERIALS held for use in the production process or in rendering of services b) Stores, maintenance suppli

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Posted in Excise  4 comments |   13881 Views