"02 February 2017" Archive - Page 7

6% concessional excise / CV duty on certain types of machinery

Notification No. 05/2017-Central Excise (02/02/2017)

the manufacturer furnishes an undertaking to the Deputy Commissioner of Central Excise or the Assistant Commissioner of Central Excise, as the case may be, having jurisdiction to the effect that the said items shall be used for the purposes as specified above and, if the manufacturer fails to fulfil this condition, he shall pay the duty w...

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Revised Excise Duty Rate on Pan Masala and packing machine

Notification No. 04/2017-Central Excise (02/02/2017)

The rate of duty per packing machine per month for a pan masala pouch having retail sale price of ₹ 8.00 (i.e. ‘P’) packed with the aid of a machine having maximum packing speed, at which it can be operated for packing of pan masala pouch of the said retail sale price, of 600 pouches per minute shall be = ₹ 177.07+28.87 x (8-6) =...

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Increase in excise duty on pan masala & unmanufactured tobacco

Notification No. 03/2017-Central Excise (02/02/2017)

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with sub-section (3) of section 85 of Finance Act, 2005 (18 of 2005), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notif...

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Central Excise (Amendment) Rules, 2017

Notification No. 05/2017-Central Excise (N.T.) (02/02/2017)

Provided that the period specified in this sub-rule may, on sufficient cause being shown and reasons to be recorded in writing, be extended by an authority next higher than the authority before whom the application for remission of duty is pending, for a further period not exceeding six months....

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CENVAT Credit (Amendment) Rules, 2017

Notification No. 04/2017-Central Excise (N.T.) (02/02/2017)

In exercise of the powers conferred by section 37 of the Central Excise Act,1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely...

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Changes in duty on Chewing Tobacco & Unmanufactured Tobacco Packing Machines

Notification No. 03/2017- Central Excise (N.T.) (02/02/2017)

Union budget 2017 announced Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Amendment Rules, 2017....

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Revised Excise Duty ratio for pan masala & pan masala containing tobacco

Notification No. 02/2017-Central Excise (N.T.) (02/02/2017)

These rules may be called the Pan Masala Packing Machines (Capacity Determination And Collection of Duty) Amendment Rules, 2017. They shall come into force on the date of their publication in the Official Gazette....

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Shares of Railway PSEs – IRCTC, IRFC and IRCON to be listed

Shri Arun Jaitley has said that the shares of Railway Public Sector Enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed in stock exchanges. The Government will encourage strengthening the CPSEs through consolidation, mergers and acquisitions and soon create an integrated public sector ‘oil major’, he added....

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Posted Under: Excise Duty |

Affordable Housing will be given Infrastructure Status

General Budget 2017-18 in Parliament today said that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits....

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Posted Under: Excise Duty |

NHB to refinance Rs 20000 crore housing loans in 2017-18

In order to facilitate higher investment in affordable housing, the Finance Minister in his budget speech proposed that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits....

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Posted Under: Excise Duty |