Excise Duty
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Dept. could not allege clandestine removal of goods without proper investigation u/s 9D Excise Act
Limitation doesn’t apply as appropriation during pendency of appeal is payment of Excise duty under protest
CESTAT allowed CENVAT Credit to Job Worker Due to Valid Consignee Documentation
CENVAT Credit Allowed as Supplier Paid Service Tax: Tribunal Sets Aside Denial Due to Missing Challans
No Interest on Reversed CENVAT Credit if Non-Utilised Before Reversal: CESTAT Hyderabad
No Section 4A Duty on Tobacco Pouches Under 10g for Lack of MRP Requirement
Govt Raises RIC on Diesel Exports to Rs 31.5/Litre
Govt Raises SAED on ATF Exports to Rs 42/Litre
Govt Raises SAED on Diesel Exports to Rs 24/Litre
Road and Infrastructure Cess on Diesel Increased to Rs. 36 per Litre
Govt Raises SAED on High Speed Diesel to Rs 24/Litre
Penalty Upheld for Invoice Without Supply Due to Evidence of Paper Transactions
CENVAT Credit Allowed Due to Expansion Not Being Equivalent to Factory Setup
Rule 6(3A) reversal doesn’t apply to credit exclusively used in manufacture of dutiable goods
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
