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
CBIC clarifies on pre-show cause notice consultation
Procedures for refund of excise duty on purchase of petrol/diesel/fuel oil by Diplomatic Missions Reg.
CBIC Notification allowing Centralised registration for Petroleum Crude
No Penalty for mere wrong apportionment of CENVAT Credit between 2 Units
Blending of 5% ethanol with 95% motor spirit forming EBMS doesn’t amount to manufacture
No amortization on additional supplies when cost fully amortized on initial supply
Lubricants not Excisable Goods for SVLDRS Scheme
Excise Duty not payable by Job Worker on work undertaken which forms part of manufacturing process
CENVAT Credit allowed in respect of inputs contained in by-products
Demand cannot be confirmed by relying on third-party evidence not cross-examined
Cross examination of witness is mandatory in terms of Section 9D under Excise Act
Excise duty payable on amount received from Honda India due to cancellation of contract
Cenvat credit eligible on setting up of CHP for evacuation of coal by rapid loading process
SVLDR application cannot be rejected for mistakes due to technical glitches & in violation of Principal of Natural justice
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
