Excise Duty - Page 20

Changes in duty on Chewing Tobacco & Unmanufactured Tobacco Packing Machines

Notification No. 03/2017- Central Excise (N.T.) (02/02/2017)

Union budget 2017 announced Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Amendment Rules, 2017....

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Revised Excise Duty ratio for pan masala & pan masala containing tobacco

Notification No. 2/2017-Central Excise (N.T.) (02/02/2017)

These rules may be called the Pan Masala Packing Machines (Capacity Determination And Collection of Duty) Amendment Rules, 2017. They shall come into force on the date of their publication in the Official Gazette....

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Budget 2017: Legislative changes proposed in Excise & Custom Duty

Article Discusses the following-  Amendments in The Customs Act, 1962: Amendment in The Customs Tariff Act, 1975 Amendment in The First Schedule To Customs Tariff Act, 1975 Amendment in The Second Schedule To The Customs Tariff Act, 1975 [Clause 110 Of The Finance Bill, 2017] Other Proposals Involving Changes In BCD, CVD, SAD And Export ...

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Posted Under: Excise Duty |

Budget 2017 Chapter wise changes relating to Excise Duty

The additional duty of excise levied under the Seventh Schedule to the Finance Act, 2005 [commonly known as health cess] on non-filter and filter cigarettes of sub-heading 2402 20 is being increased. Clause 146 of the Finance Bill, 2017 refers....

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Posted Under: Excise Duty |

Budget 2017 Exhaustive analysis of Excise & Custom Duty changes

D.O.F.No.334/7/2017-TRU (01/02/2017)

Changes in Customs and Central Excise law and rates of duty have been proposed through the Finance Bill, 2017. To prescribe effective rates of duty and to carry out changes in the Rules made under the respective Acts, following notifications are being issued:...

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Explanatory Memoranda to Excise, Custom & Service Tax notification

Explanatory Memoranda to notification Nos. 3 to 6/2017-Customs, dated 2.2.2017 Sl. No. Notification No. Description 1. 3/2017-Customs Seeks to further amend Notification No. 27/2011-Customs dated 1.3.2011. 2. 4/2017-Customs Seeks to further amend Notification No. 21/2012-Customs, dated the 17.03.2012 so as to specify the rate of addition...

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Posted Under: Excise Duty |

Draft on classification of articles of paper & printing industry

F. No. 116/29/2015-CX.3 (23/01/2017)

Disputes have cropped up in respect of classification of railway/bus/other tickets/passes, railway ticket rolls and bus ticket rolls, mark sheets/certificates, OMR Sheets/ Answer Books with OMR, Answer booklets, inland letter cards, passbooks, applications forms, paper outer strip seal, Railway receipt (RR) and practical notebook. ...

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Draft Master Circular on SCN, Adjudication & Recovery under Service Tax/ Excise

F.NO 96/1/2017-CX.1 (19/01/2017)

Board is considering issuance of a Master Circular on Show Cause Notice, Adjudication and Recovery by consolidating 85 circulars of Central Excise. The said master circular intends to compile relevant legal and statutory provisions on the subject by including all relevant Circulars issued in the past and by rescinding Circulars which are ...

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Reg. effective rate of excise duty of 12.5% on Motor Vehicles

Notification No. 02/2017-Central Excise (11/01/2017)

Seeks to further amend Notification No. 12/2012-Central Excise dated 17.03.2012 to prescribe an effective rate of excise duty of 12.5% on Motor Vehicles falling under heading 8702 90 21, 8702 90 22, 8702 90 28 and 8702 90 29 of the First Schedule of the Central Exicse Tariff Act, 1985....

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Excise Duty on Plain (un-modified) Tamarind Kernel Powder-Reg.

Notification No. 01/2017- Central Excise (N.T.) (11/01/2017)

Excise Duty on Plain (Un-modified) Tamarind Kernel Powder falling under heading 1302 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) (hereinafter referred to as the said goods), was not being levied according to the said practice, during the period commencing on the 19th day of July, 2011 and ending with the 18th ...

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Latest Excise Duty News

Find out all the latest news on Excise Duty here at Taxguru.in. Read all the relevant excise duty notifications and excise duty articles only with Taxguru.

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