Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: empanelment :: list of goods taxed at 4%
 
 
« News Headlines »
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…

Cos can claim service tax on mobiles as Cenvat
September, 14th 2006
This is a ring tone which the industry would enjoy. Companies can now claim the service tax they pay on cellphones as Central value-added tax (Cenvat) credit. The Mumbai Customs, Excise and Service Tax Appellate Tribunal has ruled that service tax paid on mobile phones is available as credit to eligible service providers of output service and manufacturers. The tribunal held that the term cellular phone would include all kinds of phones which work on cellular technology. The revenue department has been insisting that the credit was applicable only on fixed line phone. Industry can claim credit against the Cenvat it pays and use the credit to offset against the tax it is liable to pay on its inputs. Giving its judgement on a case between Indian Rayon and the commissioner of customs and excise, Bhavnagar, the tribunal made it clear that the department could not rely on the old Central Board of Excise and Customs circular of 03 to deny the credit of service tax. The tribunal said the old circular was relevant under old service tax credit rules, 02, which required the telephones to be installed in the business premises of the service provider. And, since there was no such stipulation in the new Cenvat credit rules, 04, the department could not press the old circular into service. Also, the tribunal pointed out that there was no provision anywhere in the rules disallowing the credit of service tax paid on mobile phones, which in any case was fast replacing fixed line phones in many establishments. It was held that the term cellular phone would include all kinds of phones which would work on cellular technology. Cenvat credit on mobile phones was never intended to be disallowed under the present Cenvat credit rules. It was under the service tax rules 02 that credit was allowed only for fixed line connections. Therefore, clarification issued on the basis of services credit rules 02, that credit of services on the mobile phones will not be allowed as credit has no applicability. Therefore, the judgement delivered by the Mumbai bench will give great relief to assesses for availment of Cenvat credit, service tax expert J K Mittal said. The period involved in the case is from December 04 to February 05.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions