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Changes in Union Budget 2015-16 with respect to CENVAT Credit Rules2004 and Service Tax Rules1994

Service Tax - By: - Devam Sheth - Dated:- 29-4-2015 Last Replied Date:- 30-4-2015 - CENVAT Credit Rules, 2004 amended with announcement of Union Budget 2015-16 CBEC by the virtue of Notification no. 6/2015-CE (N.T.) dated 01.03.2015 has amended the CENVAT Credit Rules, 2004 which are reproduced as under: The CENVAT Credit in respect of inputs and capital goods may also taken on receipt of the inputs/ capitals goods in the premises of the job worker, where in case of goods are sent directly to t .....

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ob worker as well, however it shall be assured that the goods are received back by the manufacturer within 180 days from the date of sending such goods. In situation, the goods are sent to job worker premises without first receiving into factory of the manufacturer , then 180 days shall be considered from the date of receipt of goods by job worker (Rule4(5)) Earlier CENVAT Credit to service receiver under partial reverse charge was eligible only if payment of provision of service has been made .....

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d(Rule 14) Amendment with respect to Service Tax in the Union Budget 2015-16 Transport of goods to Land Custom Station exempted CBEC vide Notification No. 4/2015-ST dated 01.03.2015 has exempted services provided by goods transport agency (GTA) to an exporter for transport of goods in a goods carriage to any land customs station from where are exported. This is in addition to exemption granted for transport of goods to port or airports as exempted earlier vide Notification No. 31/2012-ST dated .....

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) In the Union Budget, CBEC the governing body for Excise and Service Tax, by way of an order will specify the conditions, safeguards and procedure for registration in service tax. In this regard Order No. 1/2015-ST, dated 28.02.2015 has been issued prescribing documentation, time limits and procedure for registration. Hence, registration for single premises shall be granted within two days of filing the application (Rule 4) Provision for issuing digitally signed invoices is being added along .....

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ve from the date of enactment of the Finance Bill, 2015. Changed observed in Mega Exemption Notification No. 25/2012-ST dated 20.06.2012 With effect from 01.04.2015, vide Notification No. 6/2015-ST dated 01.03.2015 has amended the Mega Exemption Notification No. 25/2012-ST dated 20.06.2012 as follows: Exemption to any service provided by way of transportation of a patient to and from clinical establishment, all ambulances are covered within the scope of this exemption (Entry 2) Exemption pres .....

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covered in the Entry No.12 of notification no. 25/2012-ST is introduced to the purview of Service Tax Exemption to construction, erection, commissioning or installation of original works pertaining to an airport or ports provide vide entry no. 14 is being withdrawn. However the other exemptions covered under the same entry will continue to be exempted. Exemption to Life Insurance service provided by way of Varishtha Pension Bima Yojna (Entry 26A) Exemptions are being withdrawn and service ta .....

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to transportation of food stuff rail, or vessels or road will be limited to food grains including rice and pulses, flour, milk, and salt. However transportation of agricultural produce is separately exempt and this exemption continues (Entry 20 and 21) Exemption to services for carrying out of intermediate production process of alcoholic liquor for human consumption on job work is introduced to the ambit of service tax and made liable to same. The change shall come into effect from date to be .....

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e-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables (Entry 44) Exemption to service provided by way of admission to a museum, zoo, national park, wild life sanctuary and a tiger reserve. These services when provided by Government or local authority are covered under Negative List(Entry 45) Exemption to service provided by way of exhibition of movie by the exhibitor (theatre owner) to the distributor or an association of persons consisting of such exhibitor as one of .....

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