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 →

Canara Bank Versus Commissioner of Service Tax Bangalore

Liability of Interest - Cenvat Credit wrongly taken for the period April 2009 to November 2009 - Held that:- as the Cenvat Credit has wrongly taken/claimed by the appellant for the said period, trhe interest become payable under provisions of Rule 15(1) of Cenvat Credit Rules 2004 read with provisions of Section 75 of Finance Act, 1994 to be paid by the appellant.

Imposition of penalty - Rule 15(1) of Cenvat Credit Rules - Cenvat Credit wrongly taken for the period April 2009 to Nove .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s do take place for which the appellant is not to be punished by imposing the penalties. Therefore, by considering the decision of the Hon'ble Supreme Court in the case of Hindustan Steel Ltd. Vs. State of Orissa [1969 (8) TMI 31 - SUPREME Court], the penalty under Rule 15 ibid is not imposable.

Eligibility of Cenvat Credit - Taken twice on same set of documents - Appellant pleaded that that they have seven documents against eight documents to prove correctness of the credit and the 8 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

- SHRI ASHOK K. ARYA, TECHNICAL MEMBER For the Petitioner : Smt Lalitha Rameswaran, CA For the Respondent : Shri Ajay Saxena, DR ORDER PER: ASHOK K. ARYA Heard both sides in detail. 2. The appellant viz. M/s. Canara Bank, a public sector bank has been charged with availment of irregular cenvat credit on various counts. The chart given by the appellant in the written submissions on page 1 is given below: Sl. No. Nature of Irregularity Amount (in Rs.) 1 Credit availed in respect of tax paid u/s 66 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

above table is in respect of input services received from abroad and service tax paid on reverse charge basis; in this regard service tax was paid in the month of November 2009 though by mistake they took the cenvat credit in the month of April 2009. 3.1. Regarding the amounts mentioned at Sl. No. 2, 3, 4 of the table above ₹ 7,17,364/- (Rupees Seven Lakhs Seventeen Thousand Three Hundred and Sixty Four only), ₹ 25,024/- (Rupees Twenty Five Thousand and Twenty Four only) and ₹ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

loyees working in Cenvat department. She pleads that they deserve to be given benefit of non-imposition of penalty under the provisions of Section 80 of Finance Act 1994. 3.2. In respect of cenvat credit amount (at Sl. No. 5 of the table) of ₹ 6,85,310/- (Rupees Six Lakhs Eighty Five Thousand Three Hundred and Ten only) allegedly taken more than once on the same set of documents, the learned CA is pleading that they have seven documents against eight documents to prove correctness of the c .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

imposed a penalty of ₹ 14,67,499/- (Rupees Fourteen Lakhs Sixty Seven Thousand Four Hundred and Ninety Nine only) under Rule 15(1) of the Cenvat Credit Rules regarding the alleged wrong credit availed in respect of service tax paid for the input services received from abroad (on reverse charge basis in the month of November 2009), though credit was taken in the month of April 2009. This equivalent penalty of ₹ 14,67,499/- (Rupees Fourteen Lakhs Sixty Seven Thousand Four Hundred and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e payment of VAT, and water charges etc though they reversed the same along with interest. Further for the period of about seven months there was availment of wrong cenvat credit to the tune of ₹ 14,67,499/- (Rupees Fourteen Lakhs Sixty Seven Thousand Four Hundred and Ninety Nine only) against which the appellant has not paid interest even till now; therefore, the appellant does not seem to deserve any leniency regarding imposition of penalty. 5. After considering the full facts on record .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hs Sixty Seven Thousand Four Hundred and Ninety Nine only) imposed under Rule 15(1) of Cenvat Credit Rules for the above wrongly taken cenvat credit, the facts indicate that for taking the cenvat credit there was no intention of the appellant to take it when it was not due. In fact it had become due to them, when they had paid the service tax in the month of November 2009; the said lapse has been explained by the appellant saying that the said services were received from abroad in their Mumbai o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n record and the decision of the Honble Supreme Court in the case of Hindustan Steel Ltd. Vs. State of Orissa (supra) and the provisions of Section 80(1) of Finance Act 1994 (as they existed then) penalty of ₹ 14,67,499/- (Rupees Fourteen Lakhs Sixty Seven Thousand Four Hundred and Ninety Nine only) imposed on the appellant under Rule 15(1) of Cenvat Credit Rules is hereby set aside. In this regard the following pronouncement of Hon ble Supreme Court in the case of Hindustan Steel Ltd. Vs .....

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