Excise Duty - Page 20

Manual signatures on digitally signed invoices – reg.

Circular No. 1038/26/2016-CX (19/07/2016)

Representations have been received from the trade requesting for clarification on whether a manufacturer who opts to authenticate invoices with digital signature can simultaneously also authenticate invoices by manual signature....

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Classification of Tamarind Kernel Powder under CETA, 1985-reg.

Circular No. 1037/25/2016-CX (19/07/2016)

Representations have been received from the members of the trade requesting clarification regarding classification of tamarind kernel powder. It has been stated in these representations that there is divergence in the field regarding practice of classification of tamarind kernel powder...

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Failure to give intimation not restricts Reversal of Proportionate Cenvat Credit

Whether the option to reverse CENVAT credit, under Rule 6(3) (ii) of the CENVAT credit rules, 2004 (CCR) be denied merely on the ground that no intimation was given to the department?...

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Posted Under: Excise Duty |

Issue of defending interest of UOl In Indirect Tax matters- Reg.

F.No.278A/35/2016-Legal (15/07/2016)

Recently it has been brought to the notice of Board by a Chief Commissionerate Zone that the Ld, Addl. S.G. of the High Court, concerning the CC Zone has asked him that all litigation matters pertaining to his zone will route through the Office of Addl.SG. and Lawyers of Uol, appointed by Ministry of Law and Justice....

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Excise on jewellery: Govt accepts HLC recommendations

Government accepts the recommendations of Sub-Committee of the High Level Committee to interact with Trade & Industry on Tax Laws on issues relating to compliance procedure for the excise duty,records to be maintained and other relevant administrative issues....

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Posted Under: Excise Duty |

No attachment of bank accounts without following proper procedures

M/s Kunj Power Project Pvt. Ltd. Vs Union Of India (Allahabad High Court)

In the case of M/s Kunj Power Project Pvt. Ltd. v/s Union Of India, it was held that the attachment of property and bank accounts can only be done by the revenue authorities after giving proper notice to the assessee and reasonable opportunity of being heard. The attachments needs to be only after following the prescribed procedures provi...

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No Mandatory Physical verification of readymade garments manufacturing unit

Notification No. 32/2016–Central Excise (N.T.) (11/07/2016)

Every manufacturing factory or premises engaged in the manufacture or production of goods falling under Chapters 61, 62 or 63 (except laminated jute bags falling under headings or tariff item 6305, 6309 00 00 or 6310) of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) bearing a brand name or sold under a brand name a...

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Growth in Direct/Indirect tax collection of 1st quarter of 2016-17

The direct tax collections upto June, 2016 indicate net revenue collection of Rs.1.24 lakh crore which is a growth of 24.79% over the corresponding period last year. The main reason for this increase is the change in the requirements for advance tax payment even in respect of individuals which has been made in the last year’s Budget. ...

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Posted Under: Excise Duty |

Reg. exemption to goods manufactured at construction site

Circular No. 1036/24/2016-CX (06/07/2016)

Representations have been received from the trade regarding difficulties being faced in availing of benefit of exemption applicable to goods manufactured at the site of construction for use in construction work at such site vide S. No. 186 of Notification No. 12/2012-Central Excise, dated 17.03.2012, as amended. ...

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CBEC relaxes norms for recovery of confirmed demands

The Circular further provides that in cases where demand is confirmed by Hon’ble CESTAT or Hon’ble High Court recovery proceeding may be initiated after a period of sixty days from the date of the order provided that no stay is in operation. ...

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Posted Under: Excise Duty |
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Latest Custom Duty News

Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com

Custom duty is an indirect tax which is applicable on goods which are imported into India and a few goods which are exported out of India. Globally, countries levy custom duties over import and export of goods for raising revenue and also for shielding their domestic companies from competitors from several other countries. Custom duty in India is imposed on almost universally all the goods which are imported into India. Export duties are imposed on few goods as provided under Second Schedule. These duties are not imposed on few items such as lifesaving drugs or equipment, food grains, fertilizers etc. Import duties are divided into basic duty, true countervailing duty, additional customs duty, protective duty, anti-dumping duty and education cess.

Customs duty in India is imposed according to the value of the goods or their weight, dimension and other various criteria as per the goods. Where the duties are based on goods value, then the custom duties are known as ad valorem duties, and where the duty is based on quantity or weight, the duties are known as specific duties.

Customs Act, 1962 empowers the government of India for levying customs duty, prohibiting import and export of goods, framing policies for exporting and importing and penalties, offences etc. All the matters which are related to custom duty comes under the CBEC (Central Board of Excise & Customs). The Central Board of Excise & Customs also formulates policies with respect to custom duty rate, smuggling prevention and administrative decisions that are related to customs formations.

Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.

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