Method of payment of tax: Appellants used Cenvat credit availed on provider tax compensated on output service: Permissible, for this reason, no question of demanding payment in funds or requesting curiosity.
Notice that when the whole cash flows from financing is simply 704K Rupees the reason for the lessen is usually that a dividend in the quantity of 2,000,000 was paid to shareholders. In combination with the concerns about Guna Fibres reliance on the line of credit score is the dearth of money flow from operations, only 330k Rupees for 2012.
Cenvat Credit history: Enter tax credit rating: Appellants are entitled for input company credit history on lease-a-taxi service if exactly the same is employed by them for the Formal goal and for bringing and dropping of their staff members from their residence to the location of labor since the said action availed by them is in the middle of business of manufacture.
Refund: Companies useful for export of goods: A nexus between the input providers and also the output solutions could be the sine qua non to get a claim of refund of any unutilized CENVAT credit history on the company tax paid out on these enter solutions.
These marketed an in depth line of pharmaceutical products that were being purchased from drug manufactures, warehoused in storage facilities and afterwards resold to retail pharmacies, hospitals prolonged-phrase care amenities and related entities. CBI’s chairman and president Robert Castello was the seat from the CBI‘s problems and principal implementer of...
Pundir’s key goal of maximizing the wealth of the shareholders. If your shareholders recognize the worrying situation the company is in, they may opt to reinvest a big number of the business`s gains that will gain them while in the very long-phrase.
Cenvat Credit history: Towers becoming immovable residence, nexus with output assistance denied: Credit rating inadmissible declared by reduced authorities: However, aiming to decision of co-ordinate bench continue to be granted.
Cargo dealing with support won't include mere transportation of products. Mere transportation of products by highway is roofed under ‘Goods transportation company service’. Company suppliers, usually called packers and movers deliver companies of packing along with transportation, with or with out other expert services like unpacking, loading, unloading and so on.
Cenvat Credit rating: Refund: It isn't the case in the Office which the input products and services which have been been given falls under any of the exclusion clause specified beneath Rule two (I): So long as There may be an integral link amongst the enter assistance availed as well as out put support delivered, Cenvat credit rating is obtainable.
Cargo Managing Provider: The dominant activities undertaken because of the appellants under the deal in question are mostly the movement of coal in just mining place and transfer of coal through the coal face towards the tippers, if in any respect, incorporates loading and unloading which can be simply incidental.
Mr. Mehta and Ms. Pundir launched a new excellent Regulate device and hired two gross sales Reps and a few nephews with the target of making determination on the Pundir relatives. From the case, no audit or analysis was carried out to ascertain whether the company necessary an excellent Regulate device.
Cenvat Credit score: Rule 3(five) presents that if any inputs or funds goods are eliminated exterior the premises of the company of output company for providing this sort of support, there is no need for any demand from customers of responsibility or reversal of credit rating.
Ms. Pundir requested for memos that would give her a additional hints variety of insights on the issues. It's nevertheless unlucky that she has not nonetheless reviewed these memos and even convened a gathering with her administrators to deliberate on just how forward.
The corporation’s liquidity issues experienced numerous unfavorable implications on its functions. Shipping of client orders needed to be postponed mainly because it experienced to pay excise duty on the hard cash foundation, ahead of the loaded vehicles can depart the organization gates.