Excise Duty
Log in to FollowExcise Duty Act, Rules Articles News Notification Circulars Instructions. Input Credit, Cenvat, Duty Rate, SSI Exemption, Excise on Jewellery,Excise on Garment

Obligation u/r 6(2) of CCR fulfilled by availing 85% credit on common input service

Definition of ‘input service’ u/s. 2(l) of CCR doesn’t exclude re-insurance service

Refund set aside in proceedings u/s 35E sufficient, separate notice u/s 11A not required

Extended period of limitation not invocable as department being fully aware of issue

Penalty under rule 26 of CER rightly imposed on CA for false issuance of performance certificate

Cenvat Credit eligible on materials used in manufacture of storage tank & pollution control equipment

Transfer of goods from one unit to another is valued at actual cost of production excluding notional loading

Remission available as variation is due to density of goods based on different temperature at time of loading unloading

Excess duty paid on difference between clearance value from factory & sale value from depot refundable

Subsidy under Rajasthan Investment Promotion Policy-2003 not includible in transaction value for levy of excise duty
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
