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Union Budget 2018: Fostering growth and development for a New India

February 2, 2018 2118 Views 0 comment Print

Reiterating the pledge given to the people of India four years ago to give this nation an honest, clean and transparent Government, and to build a strong, confident and a New India

Penalty cannot be imposed for mere disclosure of income due to search operation, instead of original return

February 2, 2018 1716 Views 0 comment Print

Pr. CIT Vs Shanti Lal Jain (Rajasthan High Court) It is an admitted position that for the purpose of getting immunity from the penalty imposed under Clause 2 of explanation 5 to section 271(1)(c) of the Income Tax Act, 1961, three conditions are required to be satisfied by the assessee. Firstly, if the assessee makes […]

Seeks to exempt high speed diesel oil blended with alkyl esters of long chain fatty acids

February 2, 2018 1335 Views 0 comment Print

Seeks to exempt high speed diesel oil blended with alkyl esters of long chain fatty acids obtained from vegetables oils, commonly known as bio-diesels, up to 20% by volume, that is, a blend, consisting 80% or more of high speed diesel oil from the additional duty of excise (road and infrastructure cess) levied under clause 110 of the Finance Bill 2018

Seeks to exempt 10% ethanol blended petrol from additional duty of excise

February 2, 2018 915 Views 0 comment Print

Notification No. 12/2018-Central Excise Seeks to exempt 10% ethanol blended petrol from additional duty of excise (road and infrastructure cess) levied under clause 110 of Finance Bill 2018

CBEC exempt 5% ethanol blended petrol from additional duty of excise

February 2, 2018 7332 Views 0 comment Print

Notification No. 11/2018-Central Excise Seeks to exempt 5% ethanol blended petrol from the additional duty of excise (road and infrastructure cess) levied under clause 110 of the Finance Bill 2018

CBEC exempt excise duty on goods in Fourth Schedule to Central Excise Act, 1944

February 2, 2018 7947 Views 0 comment Print

Notification No. 10/2018-Central Excise Seeks to exempt duties of excise on goods falling within Fourth Schedule to Central Excise Act, 1944, in excess of amount calculated at the rate of 50%

CBEC reduces rate Basic Excise Duty on petrol diesel by Rs. 2/- per litre

February 2, 2018 1476 Views 0 comment Print

Notification No. 09/2018-Central Excise- Seeks to reduce rate of Basic Excise Duty (BED) on petrol diesel by Rs. 2/- per litre but benefit of such reduction will not be passed to consumer.

CBEC exempts Additional Duty of Excise (Road Cess), levied U/s. 133 of Finance Act, 1999

February 2, 2018 1374 Views 0 comment Print

Notification No. 08/2018-Central Excise- Central Government exempt Additional Duty of Excise (Road Cess), levied U/s. 133 of Finance Act, 1999

CBEC exempts Additional Duty of Excise (Road Cess), levied U/s. 111 of Finance Act, 1998

February 2, 2018 1215 Views 0 comment Print

Central Government hereby exempts the additional duty of excise on the goods specified in the Second Schedule to Finance (No. 2) Act, 1998

CBEC rescinds notification No. 29/2002-Central Excise dated 13.05.2002

February 2, 2018 1161 Views 0 comment Print

Central Government hereby rescinds notification No. 29/2002 –Central Excise, dated the 13th May, 2002, published in Gazette vide, number G.S.R. 362(E), dated the 13th May, 2002, except as respects things done or omitted to be done before such rescission.

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