Excise Duty
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Notification No. 3/2012-Central Excise; dated: 16.01.2012
Amends Notification No. 5/2006-Central Excise, dated the 1st March, 2006 related to rates of duty on Gold and Silver bar
No Excise Duty Exemption if conditions mentioned in Exemption Notification of Excise Rules not complied – SC
Excise Duty – Tailor made machines – Manufacture not complete till it meets the contractual specifications and subjected to individual testing
Excise Duty – Process of mixing polymers and additives with bitumen does not amount to manufacture
CBI Arrests a Commissioner Of Central Excise, Delhi In Bribery Case
Revised Trade Treaty between India & Nepal
Indirect tax collection up by over 16 % to 2.85 lakh cr in April-December
Effect of making registration certificate applicable from retrospective date is based on the principle of deemed equivalence to public user of such mark which cannot be extended to the Excise Law
Excise Department superintendent and middleman sent to CBI custody for 3 more days
Input services used in trading activity & in production of non-excisable goods not eligible for Cenvat Credit
CBI Registers Case against Commissioner of Central Excise, Delhi, A Superintendent and Middlemen For Demanding Bribe
Amends Notifications no. 03/2006-Central Excise and 6/2006-Central Excise both dated 1st March, 2006
Appointment of Central Excise Officers in relation to service tax refunds arising out of Notification No. 52/2011-Service Tax, dated 30.12.2011
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
