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Banks are registered under service tax in the category of Banking and Financial Services. They collect and pay service tax on its various incomes such as commissions, bank charges, documentation charges, processing fees etc. levied on its customers....
Read MoreDepartment is looking forward for GST and field formations have been instructed to adjudicate pending cases as early as possible, a new bunch of litigations started propelling in the form of rejecting the S B Cess refunds. May the CBEC issue instructions in this regard to in the form of clarification to settle things right....
Read MoreWhether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...
Read MoreWhether reversal of Cenvat credit is required on the inputs which are shown as scrap & value of such inputs was shown at lesser value and not written off in the books of account?...
Read MoreRecently, the central excise department has started issuing SCNs for recover of central excise duty on the Industrial Promotion Subsidy received by assessees in Maharshtra state....
Read MoreCentral Bureau of Investigation has arrested then Superintendent, Range-36, Central Excise, Nehru Place, New Delhi ( now Superintendent, GST Council, New Delhi) and a Tax Consultant (private person) in an alleged bribery....
Read MoreThe Central Bureau of Investigation has arrested an Assistant Commissioner of Central Excise, LTU, Mumbai and a private person while demanding & accepting an alleged bribe of Rs. 1.25 crore (approx)....
Read MoreThe indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17are at Rs 63 lakh crore, which is 22.0% higher than the actual revenue receipts in FY 2015-16. Till March 2017, about 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved....
Read MoreCBEC constituted, in 2004, a Centralised Task Force (CTF) to co-ordinate, facilitate, monitor and oversee the efforts of Customs and Central Excise field formations in recovery of arrears. We observed that though the Task Force was entrusted with finalising and implementing strategies for realisation of arrears it did not take any such ac...
Read MoreMs. Vanaja N. Sarna, IRS (C&CE:1980) presently holding the charge as Member (Administration), has been appointed as Chairman, Central Board of Excise and Customs (CBEC). She is taking over on superannuation of Shri Najib Shah, IRS (C&CE:79) today i.e. 31.03.2017....
Read MoreClarion Power Corporation Ltd Vs Commissioner of Customs (CESTAT Chennai) - This as a fit care where the Bench may recommend to Tamilnadu Bar Council to take appropriate action against him. But, by keeping a lenient view in mind, we adjourn the case at the cost of Rs. 1,000/-(Rupees on thousand only) which will deposited by the counsel toward Prime Minister’s Relief Fund ...
Read MoreB.N. Sanas Company Private Limited Vs The Collector of Pune, State Excise Deparment (Bombay High Court) - The matter is called out for final hearing as the matter is specifically listed for final hearing in summer vacation. Heard the learned counsel for the Petitioner and the learned Government Pleader for the State. 2. The Petitioner which is a private limited company holding FL II license and carrying...
Read MoreSagar Drugs and Pharmaceuticals P. Ltd. Vs C.C.E. (CESTAT Ahemdabad) - Next question needs to be considered is whether the demand for the period March 2003 to February 2007 can be enforced when the demand notice was issued on 14.9.2007. In the aforesaid case where the Honorable High Court observed that the in absence of time limit prescribed for recovery, a reasonable ...
Read MoreDigipro Import & Export Pvt. Ltd Vs Union of India & Ors. (Delhi High Court) - Court has been shown the five undated cheques for sum of Rs.1.25 crores which were collected from the Petitioner during the visit to the premises of the Petitioner on 10th March, 2017. The Court specifically asked Mr. Harpreet Singh, learned counsel appearing for the Respondents, to show any provisi...
Read MoreCommissioner of Central Excise, Calicut Commissionerate Vs M/s. Orion Battery (CESTAT Bangalore) - Appellant is eligible for rebate of Central Excise duty paid on inputs used in the manufacture of export goods, even in case where customs duty component is claimed as drawback. ...
Read MoreF. No. 275/11/2017-CX.8A - (18/09/2017) - After the implementation of GST w.e.f. from 1st July, 2017, a number of Writ Petitions/PILs have being filed in various High Courts challenging or seeking clarification on various aspects of GST Law & rate of tax on some products. Recently a High Court in few cases relating to GST, has granted inter...
Read MoreF.No. V/598/01/2017/8698 - (07/09/2017) - Recently, in the case of a manufacturer of Mobile Phone Batteries, LED, Charger, etc. in Delhi, the officers of Anti Evasion Branch of erstwhile Central Excise Delhi-II Commissionerate, with the approval of competent authority, had visited the premises of the assesse. On scrutiny of records of the ...
Read MoreD.O.No.1080/24/DLA/Tech/Meeting-Litigation/17 (Part) - (25/08/2017) - A meeting on Litigation Management in CBEC was held on 01.08.2017 under the chairmanship of Revenue Secretary. The Revenue Secretary has directed that the appeals pending involving revenue more than Rs. 10 crore should be an area of special attention....
Read MoreCircular No. 1058/07/2017-CX - (16/08/2017) - Clarification on requirement of submitting Bank certificate evidencing receipt of payment in freely convertible currency under Notification No. 45/2001-CE (NT) dated 26.06.2001 for export to Bhutan for specified Hydroelectric Projects- req....
Read MoreNotification No. 25/2017-Central Excise (N.T.) - (16/08/2017) - In paragraph 2 under heading, Procedure, against S.N. (3), in item (i) after the words, alongwith bank certificate evidencing receipt of payment in freely convertible currency, the words, in case of Bhutan, it is in Indian Rupees, shall be inserted....
Read MoreF. No. 275/11/2017-CX.8A - (18/09/2017) -
F.No. V/598/01/2017/8698 - (07/09/2017) -
D.O.No.1080/24/DLA/Tech/Meeting-Litigation/17 (Part) - (25/08/2017) -
Circular No. 1058/07/2017-CX - (16/08/2017) -
Notification No. 25/2017-Central Excise (N.T.) - (16/08/2017) -
Notification No. 24/2017-Central Excise (N.T.) - (09/08/2017) -
Notification No. 23/2017-Central Excise (N.T.) - (09/08/2017) -
D.O No. 390/Misc/163/2016-JC Vol.II - (27/07/2017) -
Notification No. 22/2017-Central Excise (N.T.) - (18/07/2017) -
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
