Excise Duty
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Battery Valuation Below Manufacturing Cost Cannot Support Transaction Value: Allahabad HC
Tender-Stage Drawings Not Includible in Excise Assessable Value: CESTAT Chandigarh
Cost Accountant certificate not mandatory for tooling valuation: CESTAT Chennai
Excise Act Section 11BB Interest Mandatory on Delayed Refunds: Bombay HC
CENVAT Refund Cannot Be Denied for No Nexus Without Rule 14 Proceedings: Telangana HC
CENVAT Credit on Reverse Charge Service Tax Challan Allowed: CESTAT Ahmedabad
CESTAT Chandigarh allows Interest for Delayed Refund of Investigation Deposits
CESTAT Kolkata Upholds CENVAT Credit on Inputs Destroyed During Manufacturing Power Outage
Section 11B Limitation Not Bar to Refund of Cess Paid by Mistake: Gauhati HC
CESTAT Allows CENVAT Credit on Reverse Charge Service Tax: Ahmedabad
CESTAT Ahmedabad Allows CENVAT Refund for Ocean Freight Service Tax Paid During GST Transition
Ocean freight service tax refund upheld after Gujarat HC ruling: CESTAT Allahabad
CENVAT Credit Cannot Be Denied When Manufacturer’s Invoice Names Assessee as Consignee: CESTAT Kolkata
CESTAT Chandigarh Grants 12% Interest on Delayed Refund from Deposit Till Realization
Latest Excise Duty News
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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
