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CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT

MESSAGE BOARD

   

CX - Notif. 21/2014-CX(NT) prohibiting manufacturer from taking CENVAT credit after six months from date of issue of invoice does not apply to invoices issued prior to date of notification: CESTAT


Time limit to take cenvat credit

the subject time restriction to take credit is imposed w.e.f 1.9.2014 vide Notfn No. 21/2014-NT dated 11.07.2017 which is prospective in nature as it is applicable in respect of credits taken on or after 1.9.2014. Judgement says that time restriction is applicable only for the invoices issued on or after 11.7.2014 and credit can be taken on the invoices issued prior to 11.7.2014 can be taken without any time limit may not be the intention of the provision. In fact it appears that time gap given from the date of notification (11.7.2014) to effective date (1.9.2014) is to provide opportunity to the trade to avail credit on any missed invoices. Further, not having such condition at the time of issue of invoices is no way deprive of any action on the part of the credit taker. Another reason given for allowing credit is that it is suffice if the credit is taken in the books of records even though the same is not reflected in the Cenvat Credit Register. Unless it is shown in the Cenvat Credit Register and also declared in the periodical returns how it was considered as shown in the books of records. If such an analogy is drawn how to recon the relevant date to issue SCN based on the date of receipt of input/input service shown in any book of record or on the date of taking credit in Cenvat Credit Register/ month of credit shown in the periodical returns.

mallikarjun reddy c 27/03/2018

 

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