EXCISE & SERVICE TAX

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All the manufacturers of goods have to pay central excise duty and this indirect tax is administered by the Central Government under the authority of Entry 84 of the Union List (List 1) under Seventh Schedule read with Articles 268 to 281 of the Constitution of India. Indirect taxes are a big source of revenue for the govt. and are a big part of the transaction. It is, therefore, critical to understand the factors in such taxes and through appropriate planning, reduce the costs to the extent possible. Indirect taxes like central excise effect a lots of businessmen as they are applicable to activities that span from manufacturing to final consumption, including distribution, trading and imports, as well as services.

     Excise & Service Tax Profile:-

 

ü  Applying & Obtaining of Central Excise & Service Registration.

 

ü  Maintenance of all statutory Excise & Service Tax Records.

 

ü  Availment & Utilizations of CENVAT Credit – Inputs / Capital Goods / Service Tax.

 

ü  Preparing & Discharging of Service Tax Liabilities – Category wise.

 

ü  Preparing & Submission of Revenue Figures to Excise Dept.

 

ü  Epayment of Central Excise Duty & Service Tax.

 

ü  Efiling of Excise & Service Tax Returns viz., E.R.1, E.R.3, E.R.4, E.R.5, E.R.6, E.R.7 & ST-3.

 

ü  Carrying out Exports – Without payment of Central Excise Duty – Under LUT.

 

ü  Carrying out Exports – On payment of Central Excise Duty – Under Claim for Rebate.

 

ü  Submission & Obtaining of P.O.E.

 

ü  Submission & Obtaining of Rebate Claims.

 

ü  Conducting of periodical Internal Audits of Excise & Service Tax.

 

ü  Preparation & Submission Assesses Profiles of EA2000 Audit / CERA Audits.

 

ü  Compliances of Post Audit Reports.

 

ü  Replying of queries raised by Excise & Service Tax Dept as and when cro