No CENVAT Credit for Invoice if old for more than Six months

As per amended rule 4 of the CENVAT Credit Rules , 2004, now manufacturer of a final product or provider of output service need to take cenvat credit within SIX months from the date  of  issue of any documents as specified in sub rule (1) of rule 9 of the CENVAT Credit Rules.

  As per Rule 9(1) of the CENVAT credit rules , following documents are eligible to take cenvat credit:-

Extension of due date of filing Return -Delhi VAT

Due date of Filing quarterly return has been further extended up to 19th August 2014 from 8th August 2014 for the quarter ending on 30th June 2014.

F’ Form requirement – Jobwork and goods Returned

The presumptions in law have very vital role and legislature has power to presume certain things under certain circumstances.

Section 6-A of the Central Sales Tax Act,1956 is exercise of such power by the Parliament of India.

The section was inserted in Central Sales Tax Act by CST (Amendment Act) 1972 with the following object

Enhancement of taxable value in works contract

Presently works contract for valuation purpose are categorized under three categories:-

(i) original work 

(ii) works contract relating to movable properties and 

(iii) other contracts

Service tax on the service portion involved in the execution of the works contract is presently determined in the following manner:-

E-Payment of service Tax- Made Compulsory to every Assessee

From 01^st April 2010, e-payment of service tax is mandatory for those assessee who had paid excise duty or service tax of Rs. 10 lakhs or more in the preceding financial year, whether

by cash or debit in Cenvat credit account or both [vide circular No. 919/09/2010-CX dated-23.03.2010]. But now Rule 6(2) of the Service Tax Rules, 1994 will be amended with effect from 1-10-2014.