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BCCL - Review of Transactions With OPS

BCCL - Review of Transactions With OPS

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Published by Anish Marwah

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Published by: Anish Marwah on Sep 23, 2012
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07/07/2013

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Review of transactions with
outside printing service
providers
Bennett, Coleman & Co. Limited18 September 2012
 
Page 2
Preliminary and tentative For discussion purpose only 
Background
Bennett, Coleman & Co. Limited („BCCL‟) has entered into contracts with various outside printingservice providers („Printers‟) for printing of newspapers, books or magazines.
 
The service of printing is provided to BCCL by various Printers in different states. Central and StateLaws will be applicable on the activity of printing based on the nature of contract between the twoparties.
The contract between BCCL and Printers can be categorized into four scenarios.
 All materials for printing is supplied by BCCL and the printing work is done by the printer.
Newspaper and Ink is supplied by BCCL and consumables is supplied by the printer for printingnewspapers, books and magazines.
Only Newspaper is supplied by BCCL, ink and consumables supplied by the printer for printingnewspapers, books and magazines.
Nothing is supplied by BCCL, newspaper, ink and all consumables supplied by printer for printing newspapers, books and magazines.
Indirect tax implications have been derived on the basis of each scenario.
 
Page 3
Preliminary and tentative For discussion purpose only 
Indirect Tax Provisions - Excise
The activity of printing newspaper results into manufacturing of a new product. The activityconverts paper into a newspaper which is altogether a new product which has marketability. Theactivity falls under purview of the definition of manufacturing.
Excise duty is levied onexcisable goods. Excise duty shall be levied and collected in such manner as may be prescribed, -
(a)
 
a duty of excise to be called the Central Value Added Tax (CENVAT)] on all excisable goods(excluding goods produced or manufactured in special economic zones) which are producedor manufactured in India as, and at the rates, set forth in the First Schedule to the Central ExciseTariff Act, 1985 (5 of 1986);
(b) a special duty of excise, in addition to the duty of excise specified in clause (a) above, onexcisable goods excluding goods produced or manufactured in special economic zones specified inthe Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) which are produced or manufactured in India, as, and at the rates, set forth in the said Second Schedule

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