By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
fiogf49gjkf0d
New Page 2
Part A : DIRECT TAXES Part
B : Indirect taxes
8 Amendments in the Cenvat Credit Rules, 2004
w.e.f. 1-4-2008 — Clarification about Rule 6 : Circular No. 868/6/2008-CX dated
9-5-2008.
In the Finance Act, 2008, certain amendments are made, among
others, to Rule 6 of Cenvat Credit Rules, 2004. The above circular clarifies
certain doubts relating to these amendments.
Others :
Employees’ State Insurance Corporation has amended the
Regulation 26 of the ESI (General) Regulations, 1950 and the Return of
Contributions in Form 5. The salient features of the amendments made in the Form
5 are as under :
Sr.
No. |
Category of dealers
|
Eligibility criteria
|
Period of
first return |
Due date of
submission of such first return |
|
1 |
Dealers eligible to
file monthly returns |
(1) Taxes paid more
than Rs.10 lac or Refund was more than Rs.1 crore during the previous year |
April 2008
|
21-5-2008 |
|
2 |
Dealers eligible to
file quarterly returns |
(1) Dealers under Package Scheme of Incentive. to
30-6-2008
(2) Taxes paid more than Rs.1 lac and less than Rs.10 lac
or Refund more than Rs.10 lac and less than Rs.1 crore during the previous
year
|
1-4-2008 |
21-7-2008 |
|
3 |
Dealers eligible to
file six-monthly returns |
(1) Newly registered
dealers
(2) Retailers
opted for Composition
(3)
Taxes paid less than Rs.1 lac or Refund less than Rs.10 lac during the
previous year
|
1-4-2008 to 30-9-2008
Scheme |
21-10-2008 |
- Self declaration by the employers, regarding maintenance of records and
registers, submission of declaration forms, distribution of
temporary/permanent identity cards, coverage of employees directly or through
immediate employers and wages paid to workers.
- All employers employing 40 or more employees, shall append a certificate duly
certified by a Chartered Accountant, in the revised format of Return of
Contributions.
All employers, employing less than 40 employees, will provide
self certification without any certification by a C.A.
