File Content -
(Cover whole of the Service Tax)
Basics
Negative List Approach
Exemption / Abatement List
Declared List of Servises
POT / POP Rules
Cover all calculation based sums, practice them
Read & summarise Case law from Institutes Select
case law book
Read ALL Relevent amendments
CENVAT Credit Rules
Valuation Rules
Penalty / Interest
Basic
Central Excise Rules
Must do
area
Author:
conta ct: a na ndvka bra @gma il.com
fb/Ana ndVKa bra
Discla ime r:
This Note s a re for Re vision & Re fre nce purpose only;
Vie w s e x pre sse d he re in a re pe rsona l opinion;
Efforts ha ve be e n ta ke n to e le mina te e rror, ple a se sugge st
corre ctions if a ny re quire d;
This is a small complimentry
contribution at my end to
make the hudge subject
digestiable!
Wishing you
a very Happy Reading
& Good Luck!
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India
(please ref Defination given on the next Page)
CUSTOMS
Fore ign
Countrie s
EXCISE DUTY
SERVICE TAX
Payment of Excise Duty is required at the time
of Removale from the Factory / W arehouse/
Agents Place as the case may be
Payment of ServiceTax required to be made after
calculating Point of Taxation as per POT Rules
to be made
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All States including J & K
Exempt Goods
Exempted by CG
NN 1/2011 & 12/2012
Can be moved to
another place
without
dismentaling &
major damage
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if Immovable, No Excise Duty Payable
movable, goods, Liable for Excise
Immovable, Not Goods, Not Liable for Excise
Duty
i.e. Lift, escalators, Water treament plant
movable, goods, Liable for Excise
movable, goods, Liable for Excise
Examples for Goods
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Valuation Of Excisable Goods
Methods / Ways of Valuations
or
u/s 4(1)(a) Actual
(value accepted subject to
u/s 4(1)
u/s 4A(1)
Legal Metrology Act,2009
u/s 4A(2)
Value = MRP *Abatement
u/s 4A(3) No other
Retail Sales Price
u/s 4A
here, Value = Assessable Value
(to be calculated by following mechnism)
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is
Fixed u/s 3(2)
CEA, 1944?
Notional Value or
Y
Are Goods
subject to
MRP
&
Valuation u/s 4A,
CEA,1944
MRP * Abatement
N
Valuation u/s 4, CEA, 1944
"TRANSACTION VALUE"
Y
N
Valuation Rules:
Central Excise (Determination Of
Retail Sales Price of Excisable
Goods) Rules, 2008
Rule 4: If Goods are Removed
without Declaration of MRP;
MRP, can not be recognized;
MRP, obliterated
then Value of such goods shall be
1) MRP of Identical Goods, or
2) MRP of Identialcal goods in
Market removed at the same
time
Rule 5: Highest MRP should be
considered
Conditions to for Application of Sec. 4(1)(a)
(all conditions shall be complied, if not Rule no is given
against the condition shall be Applicable for valuation)
Assessee Sold Goods (Rule 4)
For Delivery at the Time & Place of Removal (Rule 5)
Buyer & Seller are Not Related Parties (Rule 9)
Sales price is the only consideration (Rule 6)
If any one of the above Conditions of
then Determine
"Transaction Value" u/s 4(1)(b),
by Appling
The Central Excise Valuation (Determination of Price
of Excisable Goods) Rules, 2000
Author's Note:
Same Mechanism shall be
applicable in case of
ImportedGoods while calculating
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