Excise Duty
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Procedures for verification of digitally signed invoices and documents
Summary of Amendments in Indirect Taxes by Budget 2015
Central Govt. agencies in agreement with foreign companies are not entitled to exemption of surtax
CENVAT credit foregone is compliance of Rule 6(3) of CENVAT credit rules
Export benefits cannot be denied even when export proceeds are not realized
Does benefit of Job Work in the manufacturers premises eligible for benefit of Notification 67/95-CE?
Place of Removal should be determined at the time when the property in goods passed to the buyer
C4 Raffinate eligible for partial Excise exemption under Notification No. 6/2000 dated 01.03.2000- SC
If marks are not affixed on goods then it cannot be said that brand-name has been affixed
Filling up the lacunae in defective SCN not allowed in case of an open remand
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
