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
Deposit paid during first appeal can be adjusted while filing second appeal
Input credit eligible on welding electrodes used in repair and maintenance of factory machinery
Measure of Excise Duty Levy Won’t be Controlled by Its Nature
Constitute Recovery Cell for cases where recovery is not made: CBEC
Cenvat credit allowable on Transportation of Samples by Courier
Mere Removal of MRP Stickers not amounts to Manufacture to impose excise duty
Place of Removal under Excise Act and CENVAT Credit Rules
Penalty under excise Rules cannot be imposed merely for mere non-filing of separate appeal by Managing Partner
CESTAT on inclusion of value of cotton and waste, for determining entitlement for DTA clearance
Right to avail Cenvat credit at the time of coming out of exemption scheme cannot be curtailed
Cenvat Credit Rules can’t curtail Assessee’s entitlement to avail credit of inputs lying in stock as on the date of crossing the exemption limit
CBIC Introduces monetary limit at Commissioner (appeals) Level
No Penalty can be levied for delayed filing of E-Returns If Manual Returns filed within Time
CBIC fixes monetary limit of Rs 2.5 Lakh for appeal filing with Commissioner (A)
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
