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WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates 15.02.2008

WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates 15.02.2008. CENTRAL EXCISE. MANUFACTURE. Section 2 (f) Deemed manufacture. Third schedule. VALUATION. Section 4 – Transaction Value. SECTION 4 & Valuation Rules. Rule 4 - Comparable goods. Rule 5 - Freight and Insurance.

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WORKSHOP ON EXCISE AND SERVICE TAX by swamy associates 15.02.2008

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  1. WORKSHOP ON EXCISE AND SERVICE TAXbyswamy associates15.02.2008

  2. CENTRAL EXCISE

  3. MANUFACTURE • Section 2 (f) • Deemed manufacture. • Third schedule.

  4. VALUATION Section 4 – Transaction Value

  5. SECTION 4 & Valuation Rules • Rule 4 - Comparable goods. • Rule 5 - Freight and Insurance. • Rule 6 - Additional consideration. • Rule 7 - Depot clearance. • Rule 8 - Captive consumption. • Rule 9 - Related person. • Rule 10 - Interconnected undertaking. • Rule 10A – Jobwork. • Rule 11 - Best judgement

  6. SECTION 4 A • Weights and Measures. • OE Exemption. • Different MRP.

  7. APPELLATE / OTHER REMEDIES • Commissioner (Appeals). • CESTAT. • Settlement Commission. • Pre deposit.

  8. CENVAT CREDIT • Inputs / Capital Goods / Input Services. • Cross utilisation. • Input Service Distributor. • Rule 6. • 4 % CVD – credit thereof. • Jobwork vis-à-vis 214/86.

  9. RECENT EVENTS • Credit on outward transportation. • Credit on outdoor catering. • Removal of used capital goods. • Write off / Provision. • Interest on supplementary invoices.

  10. LTU • Eligibility. • Transfer of Credit. • Removal of intermediate goods. • Adjustment of excess duty paid. • Removal of credit availed inputs & capital goods.

  11. SERVICE TAX

  12. Basic Features • Statutory provisions. • Levy on service provider - Exceptions. • Levy on realisation.

  13. Valuation. • Gross amount. • Consideration in kind. • Reimbursements. • Abatements. • Service provided free.

  14. Certain important services. • Business auxiliary service. • Business support service. • Construction service. • E/C/I. • Franchisee Service. • Intellectual Property service.

  15. Certain important services. • Goods Transport Agency service. • Renting of immovable property. • Works Contract service. • Repairs & Maintenance. • Ungal choice.

  16. Export of services. • Criteria. • Benefits.

  17. Import of services. • Position from 28.02.1999. • Position from 16.08.2002. • Position from 16.06.2005. • Position from 19.04.2006.

  18. RECENT EVENTS • Revised return. • Fee for delayed return. • Utilisation of credit for GTA. • Export related refund. • Self adjustment.

  19. THANKS

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