Excise Duty
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Penalty under rule 209A of Central Excise Rules leviable as role of co-noticee admitted
CESTAT upheld Section 11AC penalty on intentional short payment of duty
Remission of duty eligible on finished goods destroyed in fire incident
Cenvat credit cannot be denied for service tax payment as a recipient instead of as a service provider
Rule 3(5A) of CCR, 2004 not apply in absence of removal of capital assets
Reversal of credit amount tantamount to non availment of Cenvat Credit
CENVAT Credit Rules not bar clearances at a price higher than purchase cost
Exemption under Notification No.12/2012-CE also applicable to Sub-Contractors
Demand order against Clandestine removal of Zafrani Zarda and Gutkha was set aside on basis of Lack of Evidence
HC have no jurisdiction to entertain appeal related to taxability of service
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
