Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Swachh Bharat Cecc .50 % input credit shoud be elligible

Service Tax - Started By: - Swapneswar muduli - Dated:- 8-11-2015 Last Replied Date:- 18-11-2015 - Dear Sir, As per notification 22/2015 dated-06-11-2015 swath Bharat Cess .5 % would be applicable for all services. But not clarify regarding the input credit whether this cess is eligible for input credit or not. My question is that this cess is applicable in case of RCM also ? If we paid in under RCM is it eligible for input credit or not ? Is there any special Accounting code for payment this ce .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(SBC) at any time from the Govt. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = I hope that Government will allow to take credit by making amendments in the CENVAT Credit Rules, 2004. - Reply By YAGAY AND SUN - The Reply = Let the Bharat be Swachh. Therefore, please do not talk about CENVAT credit on this new Levy. - Reply By Ganeshan Kalyani - The Reply = 1) Yes, this SBC is applicable under RCM also.2) As of now there is no amendment in CCR, hence CENVAT credit cannot be taken. 3) There is n .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d on services under Reverse Charge Mechanism. - Reply By GOKARNESAN.S SUBRAMANIAN - The Reply = Even if amendment is made in cenvat credit rules to allow SB cess as credit, the utilisation may be restricted to only service tax on output service and not to excise duty as no SB cess is payable on goods manufactured.hence, for manufacturer it is a cost onlyS.GokarnesanAdvocate - Reply By JAIPRAKASH RUIA - The Reply = There is no reason for restricting the credit as well as utilization of SBC across .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

specific purpose, I am of the view that the same treatment may be given for this by Government for not allowing credit. Only Government has to decide the samegokarnesani - Reply By Ganeshan Kalyani - The Reply = To further amend the Swachh Bharat Cess Government has published Notification no.23, 24 & 25 / 2015-ST. Notification No. 23/2015-ST: Swachh Bharat Cess shall be leviable on the value after availing abatement as per Notification no. 26/2012-ST. Notification No. 24/2015-ST: Swachh Bha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ax. Swachh Bharat Cess is not eligible as Input Tax Credit and has to be paid in Cash only and can't be adjusted from any CENVAT account. - Reply By Ashwani Rustagi - The Reply = SBC is not integrated in the Cenvat Credit Chain, therefore, credit for SBC would not be available. This has been clarified by the Govt. in FAQ. - Reply By KASTURI SETHI - The Reply = Sh.Ashwani Rustagi Ji, Thanks a lot for rightly updation. - Reply By ashish chaudhary - The Reply = There has been judgment of Karnat .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

at Credit would be eligible even if there is no specific provision in the Cenvat Credit Rules to allow credit for the same. The rationale may be applied to SBC also as the proceeds of SBC would be first credited to Consolidated Fund of India and appropriation shall be made therefrom. One could evaluate taking credit relying on above judgment. The same may be availed and reversed under protest each month till judicial clarity emerges. - Reply By Manoj Agarwal - The Reply = All the issues raised h .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of SBC is not available as is clarified by CBEC in their FAQ's. Below for info of all and not to face any litigation.Q.14 Whether Cenvat Credit of the SBC is available?Ans. SBC is not integrated in the Cenvat Credit Chain. Therefore, credit of SBC cannot be availed. Further, SBC cannot be paid by utilizing credit of any other duty or tax. - Reply By Manoj Agarwal - The Reply = Dear CS Sanjay Malhotra,Have you read Point 12 of the link shared by me??And what is the legal validity of the FAQ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ng upon judgment of Shree Renuka Sugars. To be on safer side, do not utilise the credit and reverse it in the same month under PROTEST. This could safeguard one against the time limit of one year in taking the credit in case the matter is decided in favour of assessee by Court in future. - Reply By Manoj Agarwal - The Reply = Point No. 12 of my article:- 12. The moot question is whether Cenvat Credit is available on SBC? Most of the subject experts are of the view that since SBC is not specifica .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Article: SERVICES UNDER REVERSE CHARGE UNDER GST REGIME

Forum: Duty Drawback & Input Credit - under GST

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Credit on Repair of Company Car & Its Insurance

Highlight: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017 - Notification

Highlight: Companies (Acceptance of Deposits) Second Amendment Rules, 2017 - Notification

Highlight: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg. - Circular

Highlight: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 - Public Notice

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Circular: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20

Notification: Companies (Acceptance of Deposits) Second Amendment Rules, 2017

Notification: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017

Forum: Trans1 return

News: Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified

Circular: Promote the officers of the Indian Revenue Service (Customs and Central Excise) to the grade of Principal commissioner of customs, GST & CX

Circular: Allocate the charges amongst the Members of the Central Board of Excise and Customs

Circular: Strategy for audits in 2017-18 consequent to GST - Audit by Central Excise and service Department to continue for the accounting year 2016-17 and for the past period

Circular: Appoint the IRS (C&CE) officers as Principal Commissioner (Revision Application) and ex-officio Additional Secretary

Circular: Time limit for filing intimation for composition levy under Rule 3(1) of the CGST Rules, 2017 extended to 16-8-2017

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

Circular: C.B.E. & C. Advisory on Customs related matters on introduction of Goods and Services Tax regime

Circular: List of Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates

Circular: Works Contract for construction of Flats, Complex — Builders to pass on GST benefit to buyer otherwise anti-profiteering provisions of Section 171 of GST Act to apply

Circular: Clarification regarding applicability of section 16 of the IGST Act, 2017, relating to zero rated supply for the purpose of Compensation Cess on exports – Regarding.

Circular: Clarification on Inter-state movement of various modes of conveyance, carrying goods or passengers or for repairs and maintenance- regarding

News: RBI Reference Rate for US $

Highlight: Addition u/s 23(1)(a) - deemed rent - once the property is let out and at any point of time this remained vacant during the same cannot be brought to tax under the head House properties income.

News: Haryana constitutes screening committee on anti-profiteering

Highlight: Valuation of imported goods - it is necessary to re-examine the matter of both license agreement as well as supply contract simultaneously, to see if the enhanced royalty was in the guise of adjustment of the price of components.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

Highlight: Cenvat credit availed on Club Membership for the Director is not admissible as it cannot be said to be remotely connected with the activity of manufacture

Circular: Amendments in Hand Book of Procedures 2015-20 –reg.

News: Jaitley asks biz not to wait till last day to file GST returns

Circular: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg.

Article: 20 Things You must know about E Way Bills in GST Law

Article: ‘DUTY DRAWBACK’ CANNOT BE EQUATED WITH ‘REBATE OF DUTY’

Highlight: Notification regarding GST rate for branded cereal, pulses and flour

News: Notification regarding GST rate for branded cereal, pulses and flour

Highlight: Anti-dumping duty on import of bus/truck tyres from China

Highlight: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about their taxability - demand confirmed.

Highlight: BAS - execution of the project of smart card for vehicle registration – implementing the SOC-VRC project - The fact that the Government has outsourced some part of the work and paid certain consideration for such outsourced work, does not make the activity subject to service tax.

News: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Constitution of National Anti-profiteering Authority (NAA) under GST-reg. - Trade Notice

Highlight: Amendments in Hand Book of Procedures 2015-20 –reg. - Various amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020.

Circular: Constitution of National Anti-profiteering Authority (NAA) under GST-reg.

Highlight: Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in such arrangement.

News: RBI Reference Rate for US $

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

Circular: Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version