Excise Duty
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Central Excise Notification No 35/2010 – Central Excise; dated: 21.12.2010
Excise Duty -Scope of Notification Nos.49/2003-CE and 50/2003-CE both dated 10.06.2003
Packaged software or canned software shall be liable to Excise duty subjection to MRP – abatement shall be 15 Percent
Commissioner of Central Excise Commissionerate Versus M/s Cool Tech. Corporation ( High Court Of Punjab and Haryana)
Revenue Collections from Indirect Taxes Increases by 42.3 percent During April – November 2010
Parle Bisleri – Plea for benefits of SSI dismissed
Pepsi Foods Ltd. – Demand of Excise Department for penalty dismissed
CBI arrests IRS probationer and Superintendent of Central Excise for demanding and accepting bribe
Penal action under Rule 173Q (1)(bb) of the Central Excise Rules, 1944 for wrongly taking credit
Landmark SC decision defining ‘inputs’ in Maruti Suzuki case doubted; issue referred to Larger Bench of SC
Government losing 100 crore a day due to stoppage of production by cigarette companies
If a product is “marketable” and has a shelf value, it is liable to excise duty- SC
Clarification regarding Quantity discounts, bonus quantities, etc. cleared without payment of duty under MRP based assessment – reg.
Rules 6(2) and 6(3) of Cenvat Credit Rules 2002 not applicable when assessee is engaged in ‘trading activity’ and providing ‘output services’- Cestat
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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
