Excise Duty
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Notification No. 12/2013 – Central Excise
Regarding ‘zero excise duty route’ to branded ready- made garments and made-ups.
Notification No. 10/2013-Central Excise; Dated: 01-03-2013
Notification No. 9/2013-Central Excise; dated: 01.03.2013
6% excise duty on branded readymade garments & made ups of cotton, not containing any other textile materials -Reg.
Notification No.7/2013-Central Excise; dated: 01.03.2013
1% excise duty on Mobile handsets including Cellular phones -Reg
Increase in compound levy rate of duty for Stainless pattis/pattas – Reg
Seeks to notify ‘the resident public limited company’ as a class of persons U/s. 23A(c)(iii) of Central Excise Act, 1944
Mode of recovery of CENVAT credit wrongly taken, under CENVAT Credit Rules, 2004 -Reg
Reg. provision for interest on refund arising out of order of final assessment
Regarding MRP based assessment with 35% abatement thereon, for branded medicaments
Budget -Explanatory Memorandum to Service Tax, Excise & Custom Notifications
Changes in Indirect Taxes – Union Budget 2013
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
