R Subramanya is an expert in the field of Indirect Taxation and is a consultant for various aspects of the indirect tax regime. His core area of practice is Customs, Central Excise, Service Tax, Exim Policy matters, Advance Rulings, investigations for Safe Guard Duties & Anti Dumping Duties. He is also an Advocate and pleads mainly before the CESTAT, Settlement Commission, Advance Ruling Authority, and Adjudicating Authorities. He has also gained immense experience in the procedural aspects of Central Excise, Audits, and has also worked in the Central Excise And Customs Department for more than 13 Years. He also conducts seminars for industrials associations and various forums, to share the knowledge and latest developments. He is also an alumni of the IIM, Calcutta and has successfully completed the executive program on corporate regulaions.
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Export oriented unit status permits domestic sales and zero rated GST treatment with export refund routes under prescribed conditions.
EOUs are treated under customs and GST as customs bonded manufacturing units whose outputs are zero rated supplies for export purposes, enabling refunds of input taxes either by claiming unutilized input tax credit under bond/Letter of Undertaking or by refund of IGST where tax is paid; customs and trade policy also permit clearance of a portion of EOU manufacture into the Domestic Tariff Area on payment of duties and taxes, so EOUs are not required to export 100% of production. (AI Summary)
Customs - Import - Export - SEZ
GST audit strengthens detection of financial frauds and curbs fraudulent input tax credit claims using forensic techniques.
Financial frauds and GST-related evasions-notably fake invoicing and improper input tax credit claims-require forensic auditing and coordinated enforcement because fraud can vitiate tax proceedings. GST audits scrutinise returns and financial records to verify compliance and detect anomalies, while anti-money laundering laws, KYC obligations, and interagency cooperation provide legal instruments. Strengthening internal controls, adopting digital tracking and analytics, and promoting voluntary compliance are urged to prevent and detect complex financial crimes. (AI Summary)
Goods and Services Tax - GST
Restriction on transferability of duty credit scrips: SEZ-to-DTA clearances attract import controls and licensing requirements.
MEIS duty credit scrips are classified as goods under HSN 4907 and transfers from SEZ units to DTA units attract customs duties under Section 30 of the SEZ Act, 2005 as if imported. The scrips do not fit specific 49070010-30 subheadings and thus fall under 49070090, which is restricted under the import policy, potentially requiring licence conditions for clearance. Paperless electronic scrips issued via EDI ports are not treated as physical goods and are not impacted in the same manner, creating a compliance gap for paper scrips issued in non EDI SEZ zones. (AI Summary)
Customs - Import - Export - SEZ
Cenvat credit of additional customs duty on imported coal disputed; statutory wording and board circular determine admissibility.
Whether the 2% additional duty of customs on imported coking coal is admissible as Cenvat credit is disputed: Rule 3(1)(vii) allows credit for the additional duty under the Customs Tariff Act only to the extent it is equivalent to duty of excise specified in the Excise Tariff, and the note argues the duty charged on coal is not such excise-equivalent duty; industry practice passes the charge and manufacturers claim credit, while a counterview relies on the statutory word "equivalent" and a Board circular to support admissibility in certain circumstances. (AI Summary)
Cenvat Credit
TaxTMI 
TaxTMI 
0
21 Aug 2019 
2 Replies 
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