ramesh
27 February 2011 at 18:24
Respected Sir,
I am manufacturing Polypropylene Multifilament yarn(800deniers) from PP Granules being used as intermediate captively in the manufacture of narrow woven fabric. Narrow woven fabric is conditionally exempted subject to non availment of Cenvat credit on inputs. i.e.granules under Notf No 30/2004-CE .Previously I was availing cenvat credit on PP Granules and paying excise duty on narrow woven fabric under Notification No 30/2004-CE dated 09.07.2004 and availing exemption on PPMF Yarn under Notif No 67/95-CE dated 01.03.1995. Now I want to pay duty on intermediate product Polypropylene Multifilament yarn under Notf 67/95-CE dated 01.03.1995 at the value of 110% of cost of production and avail exemption on Narrow woven fabric under Notf No 30/2004-CE. But Notf No 30/2004 provides conditional exemption to Narrow woven fabric subject to non availment of credit on inputs. But I want to avail Cenvat credit on inputs. It is clarified PPMF yarn is unconditional dutiable item not covered under Notf No 30/2004-irrespective of availment on cenvat credit on inputs. Excise officers are asking me to not to avail Cenvat credit on inputs under new scenario and pay duty on PPMF yarn by PLA. My explanation is that I am using duty paid inputs into PPMF Yarn on which I will excise duty and PPMF Yarn is inputs for Narrow woven fabric (exempted) .My question is whether I can avail cenvat on inputs i.e. granules and use in payment of duty on PPMF yarn and also avail exemption on Narrow woven fabric under Notif No 30/2004 which is conditional notf does not allow cenvat credit to inputs if I clear NWF without duty. PPMF yarn which is intermediate for Narrow woven fabric,can be treated as inputs for Narrow woven fabric to fulfil condition of Notf No 30/2004 and to avail exemption on NWF.
Yours regards,
Harish
Anil Kumar-Advocate
24 February 2011 at 18:55
IN ANY CASE BANK CANNOT DISCHARGE HIS FIRST RIGHT OVER THE FD BECAUSE HE HAS EXTENDED LOAN AND FD HAS BEEN LIENED. HOWEVER, IF THE IT DEPT. MOVE TO HIGHER COURTS, THE SITUATION MAY FURTHER IMPROVE.IN THAT CASE IT WOULD BE IMPORTANT TO KNOW THE DATE OF INVESTMENT IN FD AND THE TAX DUE FOR THE YEAR OF ASSESSMENT/FINANCIAL YEAR. PLEASE FURNISH THE SAME.
Anonymous
24 February 2011 at 15:01
Can any one tell me what is the MVAT rate of SILICONE SEALENTS in Maharashtra
Regards
ramesh
24 February 2011 at 13:47
Respected Sir,
My friend has a factory divided in two sections in one plot. In one part dutiable (narrow woven fabrics) items were manufactured and in other part other excisable items (non woven fabric) were manufactured subject to condition of availment of Cenvat Credit on inputs under Notification No 30/2004-CE dated 09.07.2004 amended. Now availment of Cenvat Credit on inputs in second part has been discontinued and goods thus have become exempted. Total turnover of both products was more than Rs 4 crores during last year 2009-10.Both items are textiles on which SSI Notification No 08/2003-CE dated 01.03.2003 is not applicable. Now my friend wants to manufacture Non woven fabric in the same unit without Excise registration and but manufacture Narrow woven fabric with Excise registration .But excise officers are asking him to work non woven fabrics under Excise registration and however he may not pay Excise duty on the non woven same and also file ER-1 of the same . Are excise officers are right in their contention ?.My question is whether excise registration is compulsory for both dutiable and conditionally exempted goods manufactured in the different parts of the same factory ? Can conditionally exempted goods like non- woven fabric are exempted from registration under Central Excise Rule 9(2) ?
Thanks and regards,
Harish Kumar
sudan suman kumar
23 February 2011 at 06:02
I wish to have some case laws of various courts namely, Tribunal, High Courts or Supreme Court on the issue that Modvat/Cenvat Credit is admissible even for the period prior to registration if duty or service tax is payable.
Kindly help.
visu
21 February 2011 at 21:17
It has been told by an employer at TANZANIA
that 50% salary will be paid on the records and 50% salary off the records.
If that is a case; pl. advise whether this off the record salary brought to india is taxable at India.
Experts please suggest and advise to decide on things
Anonymous
21 February 2011 at 17:38
dear sir,
i have two flats and both are on rent.the monthly rental receipts are duly reflected in my bank statement. a departmental inquiry wants to see my bank statement. my question is
(a) for claiming tax rebate for housing loan i have shown the flat to be self occupied. should i have also declared the rent receipts on the self occupied loan.
(b) my second flat is shown as let out and income against that flat is shown in the documents claiming tax rebate.
have i violated any income tax provisions in para a. thank you
rajiv
19 February 2011 at 18:35
Sir my client is charging 5% rate of tax on bitumen emultion under the category bitumen. The assessing authority has duly made assessments upto 2006-07 at the same rates. Now the deptt. is saying that the rate of tax on bitumen emultion is 12.5% under unclassiefied goods.
Further in our opinion after processing the raw bitumen the bitumen is made usable for use by changing its grades or by using emulsifiers.
kindly guide me that whether it amounts to manufacturing or processing. If possible kindly send me some relevant judgements also.
Regards
Rajiv Sharma
vinay gangadhar hegde
17 February 2011 at 21:23
Whether software is libale for VAT. Whether AMC contract for software is liable for vat under Karnataka VAT Act 2003
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Sec 44BBB Turnkey Power Projects
Whether Turnkey power projects also includes Transmission and Distribution of power like tower erection and supply of conductors by a foriegn company ?
Give reference of some case law or notifications.