we are exciseable mfg. unit we purchase m/c capital goods in invoice excise duty charges by party. we are 50% cenvat credit first year and 50% next Financial year.

my query 50% claim cenvat credit we can not charges depreciation and next year 50% duty claim not depreciation in income tax. audit authority said you have full depreciation not claim in excise amount in first year. you have to pay excise duty

for example :-
Purchase Capital Ass. Value FY 1415 Rs. 100000
Excise Duty 12.5% 12500
Total amount 112500

we claim 50% cenvat duty FY 1415 Rs. 6250
and remaining Cenvat Duty FY 1516 Rs. 6250

we Claim depreciation only on Rs. 106250 first year FY 1415 not 50% cenvat credit during FY Cenvat 6250.00 and show in BL. Next year we claim Depreciation FY 1516 only on Rs. 100000/- after remaining 50% cenvat less Rs. 6250.00 which is show in BL.

audit party said you have 50% credit in FY 1415 Rs. 6250/- it is ok but you have not claim depreciation on Rs. 106250.00 you have claim only. FY. 1415 Rs. 100000.00. and he is deny the total credit avail which is FY 1415 Rs. 6250/- & FY 1516 Rs. 6250/- Both Year .

which rule he is deny the credit or any circular pl. provide

devang shah

Dear Experts,
I am working in a 100% E.O.U.Some times we having DTA sales. Now my question is can we take service tax credit on below categories.
1. Banking & finance
2. Manpower
3. Security
4. G.T.A in coming.
Kindly confirm.
Thanking you,
R.Dutta

GOOD AFTERNOON EXPERTS,
THIS IS VERY URGENT QUERY FOR ME PLEASE REPLY AS SOON AS POSSIBLE.
WE ARE EXCISABLE UNIT SITUATED IN UTTARAKHAND. WE ARE ALSO DOING JOB WORK FOR ANOTHER COMPANY.SIR MY QUERY IS THAT
1-WILL WE CHARGE SERVICE TAX 14.5% FROM PRINCIPAL MANUFACTURER.
2-WHO WILL PAY EXCISE DUTY PRINCIPAL MANUFACTURER( IF UNDER EXCISE) OR WE WILL CHARGE EXCISE DUTY AT THE TIME OF SEND MATERIAL THROUGH CHALLAN
3-IF WE WILL CHARGES SERVICE TAX THEN CAN WE ADJUST THIS AMOUNT. MEANS THAT WE ARE SERVICE RECEIVER THEN AT THE TIME OF MAKING SERVICE TAX PAYMENT CAN WE ADJUST OUTPUT SERVICE IN TO INPUT SERVICE
EXAMPLE
ST CHARGE IN JOB WORK 100
ST ON INPUT SERVICE RECEIVER 40
THEN CAN WE DEPOSIT 60 (100-40)
4-CAN WE CENVAT CREDIT OF SERVICE TAX CHARGED ON JOB WORK AT THE TIME OF EXCISE PAYMENT.

My client manufecture Dutiable & Exempted goods. Some Raw material use in both products. He transfer Raw Material to Exempted finished goods by making Stock Transfer for which he issue a Tax cum Excise Invoice (i.e Sale Invoice) in his own name and only pass a JV for Duty portion in tally(Raw Material value during stock transfer not entered in Tally). Is it correct?

Dear sir,

As we are the manufacturer and we are sending our Raw material for further process to another job worker under Notification 214/86. I would like to know what would be the time perioud for for receiving back supplied material to principle manufacturer. whether it is 180 days or period has been extended.

Thanks

Dear Experts
We have recently obtained the IEC NO. And we have got the order from china to procure the excisable goods, here everyone are requested to let me know the complete docomentation & Procedure including banking activities to procure the excisable goods,
Regard
Mohit chandra

Dear Sir's/Expert.

We have Purchased the Gear Oil, from the Local (regd. under Excise& VAT) Dealer,

He Charged ED As well as VAT. on the Gearl oil.

As per the ED definition: Sec. 2(k) of the Inputs of Cenvat,: its not specifically included. so i have availed the ED & now the VAT part, as its used in the manufacturing, i am availing as a inputs under TNVAT ACT. Kindly Reply.

Whether i am eligible to avail under Both ED as well as VAT.

cenvat credit of excise on repair and maintenance is available

Dear Experts,
We have cleared export consignment under LUT, without payment of duty plzz clarify what documents will be produce to excise department in respect of export proof,

Thanx & Regard
Anita Gupta

we are mfg. of pump excise able unit we have made excise invoice under excise rule. we have charge Basic value (Asses able value) + Packing Charge + Excise duty+ Vat Value than after we have charge Fright Outward Charges (Local Tempo Charges) in invoice by Mistake we have mention "Mis. Expenses Charges - sales" wording in invoice. it is local Tempo Charges collect in invoice from party which is we have paid on b/h our sales party.

my point is can i collect the fright (Local Tempo Charges) on b/h of our sales party and we charges in our invoice after basic value+excise+vat (NT. :- we are not paid excise on fright Charges which is mention in invoice wording "Mis. Expenses Charges - Sales" actually it is Fright outward Charges) and if we mention in invoice "Fright Outward Charges - Sale" we are not collect excise on "Fright Outward Charges - Sale" department said you have pay excise on Fright Outward Charges.

We have not Charges excise of Ledgers which is we have mention in Invoice
(we have alternate show in both ledger we can not show both ledger in single invoice)

Fright outward Charges - Sales
Mis. Expenses Charges - Sales


Devang Shah
9904779686