Excise Duty - Page 20

Relief from Indirect taxes to Food Processing Industries

Basic necessity for a prosperous living for any human being is food, clothing & shelter. Out of these three, food contributes as a major necessity. Changing lifestyles and appropriate fiscal policies has given a considerable push to the food processing industries. I...

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Posted Under: Service Tax |

Reg. allowing manual sign on digitally signed invoices for Cenvat

F.NO 201/04/2016-CX.6 (15/06/2016)

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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Notification No. 25/2016–Central Excise Dated 14.06.2016

Notification No. 25/2016–Central Excise (14/06/2016)

the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) the Central Government on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)...

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Notification No. 24/2016–Central Excise Dated 14.06.2016

Notification No. 24/2016–Central Excise (14/06/2016)

Central Government on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 214/86-Central Excises, dated the 25th March, 1986, published in the Gazette of India, Extraordinar...

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Excise duty on readymade garments sold by a retail store

Circular No. 1031/19/2016-Central Excise (14/06/2016)

The issue raised is whether excise duty would be chargeable on readymade garments or made up articles of textiles which are sold by a retail store which merely affixes the retail sale price on the readymade garments or made up articles of textiles which are purchased by such retail store from the open market....

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CBI court held 3 excise official guilty in bribery case

The Principal Special Judge for CBI Cases, Chennai has convicted Sh. G Murali Krishanan, then Superintendent, Central Excise, Chennai in a bribery case and sentenced him to undergo two years Rigorous Imprisonment with fine of Rs. 10,000/-....

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Posted Under: Service Tax |

PM to inaugurate 2 day Annual Conference of CBDT & CBEC

Prime Minister to inaugurate the two day Annual Conference of Tax Administrators 2016 on 16th June, 2016 in the national capital; For First time that two Revenue Boards i.e. CBDT & CBEC are holding the Conference simultaneously;...

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Posted Under: Service Tax |

Fresh CBEC panel to handle tax litigation in various HCs

Order No. F. No.278A/21/2015-Legal (09/06/2016)

In supersession of Board's letter F.No.278A/34/2014- Legal dated 20.01.2015, the President of India is pleased to appoint a fresh panel of Sr./Jr. Standing Counsels of CBEC to handle litigation of indirect Taxes before various High Courts and other fora, in terms of Instructions RN. 278A/43/2007-Legal dated 05.12.2007 as per following det...

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Duty on Scrap Generated during process of Re-Made, Refining & Reconditioning

When we discuss the sources of law, the precedent is one of the most important sources of law apart from the codified law and the law arrives though customs. When the law is not cleared enough through the statute then the role of the precedent came into picture. ...

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Posted Under: Service Tax |

Excise Duty on Jewellery – A Nightmare!

In this year’s Budget, a nominal excise duty of 1% [without CENVAT Credit on Capital Goods and Inputs] and 12.5% [with CENVAT Credit on Capital Goods and Inputs] has been imposed on articles of jewellery [excluding silver jewellery, other than studded with diamonds or other precious stones] w.e.f March 01, 2016. ...

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Posted Under: Service Tax |
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Latest Excise Duty News

Find out all the latest news on Excise Duty here at Taxguru.in. Read all the relevant excise duty notifications and excise duty articles only with Taxguru.

In today’s economic scenario the significance of taxes has increased and it now not limited to being a financial aid for the Governments. The Union or the Central Government imposes several taxes together with their state governments. Some of the taxes are also levied by local Municipalities as well. Excise Duty comes under the taxes which are levied by the Central Government as per the provisions laid out in the Excise Duty Act, Excise Duty Rules and Excise Duty notifications formulated by the Government.

Excise duty is an indirect tax which is levied on goods manufactured in India and are intended for home consumption. Manufacturing of the goods is the taxable event and the excise duty liability arises as and when the goods are produced. Excise duty is a tax on manufacturing that is payable by a manufacturer of goods, who passes the incidence on to their customers. The CBEC (Central Board of Excise and Customs) is the governing authority and it functions under Union Ministry of Finance’s Department of Revenue. Under the power conferred by the Central Excise Act, 1944, the Central Government levies taxes on production or manufacturing of goods. The excise tax rates are stated under the Central Excise Tariff Act, 1985.

At Taxguru, we provide you all the latest news on excise duty together with all the updates and excise duty notifications. We at regular intervals publish excise duty articles and blogs for the benefit of our readers. Get to know all the latest developments in the Excise Tax Act and all the latest amendments at Taxguru. Find out all the excise duty news and updates with respect to excise duty here at Taxguru. We ensure that we bring you all the accurate and comprehensive coverage relating to excise duty in India

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