TaxTMI 
TaxTMI 
Audit Team Demanding last 5 years record with revision_Urgently
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....udit Team Demanding last 5 years record with revision_Urgently<br> Query (Issue) Started By: - Prem Bajaj Dated:- 12-7-2016 Last Reply Date:- 14-7-2016 Central Excise<br>Got 7 Replies<br>Central Excise<br>Dear Experts, I am a manufacturer and imports raw material and i am paying Custom duty with BCD, CVD, Spl CVD, EC & SHEC. And i have taken credit of CVD and Spl CVD plus proportionate EC and SHE....
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....C in proportion of CVD and Spl CVD. At the time of FY 2012-13,2013-14 it was so confusing and i discussed with excise auditor but excise auditor said nothing is wrong you can take credit of the same and he didn't raise any query and complete audit. BUT NOW Excise auditor is doing audit of current year and he is ready to raise demand of these points of past 5 years but my point is excise audi....
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....t has been done of past period and we nothing to hide and mentioned each and every item in return and now how can deptt cover my case under fraud?? Please suggest. Thanks in advance. Reply By KASTURI SETHI: The Reply: Sh.Prem Bajaj Ji, No. Since Audit has been conducted regularly by the department, now the department cannot invoke the extended period of five years on the ground of suppressio....
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....n of fact etc. There are judgements of High Court on this issue in favour of the assessee. However, If SCN is issued, that would not sustain but doors for facing the rigours of litigation would be opened. You are late now. Not too late. Reply By Ganeshan Kalyani: The Reply: Sir, I have seen that even if an audit has happened, the department issues a Notice if they are of firm view that tax has b....
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....een escaped. Thanks. Reply By KASTURI SETHI: The Reply: Sh.Ganeshan Kalyani Ji, I agree with you Sir. Sometimes lame SCNs are issued. If audit has been conducted regularly and SCN invoking extended period is issued, that would be quashed on the first stage of appeal. Now there are so many judgements on this issue. The Department has also started initiating action against the officer who issues....
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.... un-sustainable SCN. Reply By Prem Bajaj: The Reply: Dear Kasturi Sir, Thank you so much for resolving my query please suggest for one more thing that Legally EC & SHEC is not allowed But i have taken EC & SHEC on CVD Portion only which is logically allowed i think, please correct me if i am wrong. Is there any remedy available for this. Reply By Prem Bajaj: The Reply: Also can you please sha....
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....re high court judgement, if possible. Thanks a lot sir. Reply By KASTURI SETHI: The Reply: Sh.Prem Bajaj Ji, HE and SHE Cess paid prior to 1.3.15 and goods may be received in the factory of manufacturer on or after 1.3.15 can be utilised towards BED. (Notification No.12/15-CE(NT) dated 30.4.15) Reply By KASTURI SETHI: The Reply: Sir, Logic has no room in front of law. Law will prevail over....
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.... logic.<br> Discussion Forum - Knowledge Sharing ....