Home Highlights February 2014 Year 2014 This

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1. CENVAT credit - input services written off - Rule 3(5B) of CENVAT Credit Rules, 2004 reveals that it is directed against the input or capital goods and not applicable to...

2. Reversal of Cenvat credit - Inputs found short in factory premises were written off - Shortages written off should be available in the factory prenises for Cenvat credit...

3. Reversal of cenvat credit on goods lost / written off - returned goods - on written off value, Cenvat credit is not admissible - AT

4. Reversal of CENVAT Credit - Value of goods written off in books of accounts - during the relevant time rules did not require reversal of credit when value of inputs was...

5. Disallowance of rates & taxes being reversal of CENVAT credit on scrap written off - In case, the assessee is able to explain CENVAT credit with necessary details, then...

6. Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

7. CENVAT Credit - The input service credit cannot be denied on the ground that it is shown in the ER1 return instead of the ST3 returns since the cross utilization of...

8. Reversal of Cenvat Credit on inputs written off - as long as the inputs on which the credit has been availed, are within the factory but the same are written off from...

9. Reversal of CENVAT credit - inputs written off and written back in the books of account - the adjudicating authority must re-quantify the actual credit to be reversed on...

10. Reversal of CENVAT Credit - for the purpose of formula under rule 6(3A) is only total CENVAT credit of common input service and cannot include CENVAT credit on input...

11. Reversal of CENVAT Credit - inputs written off - provision made in the books of accounts on account of Non-Moving Inventory, without reducing the value of inventory -...

12. CENVAT Credit - trading activities - Rule 6 of CENVAT Credit Rules, 2004 deals solely with the situation of CENVAT Credit resulting from exempted services and exempted...

13. Reversal of CENVAT Credit - creation of provisions in the balance sheet for the old and slow-moving inputs - On perusal of the balance sheet, it can be seen that the...

14. Cenvat Credit - pre-mature credit on input services - credit availed before making payment - Scope of Rule 4(7) of Cenvat Credit Rules, 2004 - credit cannot be denied - AT

15. Cenvat Credit - 100% EOU - Reversal of cenvat credit availed on inputs removed from the factory as such against CT-3 certificate - no reversal of credit is required - AT