Excise Duty
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Amalgamated Company can avail Cenvat Credit lying in the books of Amalgamating Company
Once the adjudication order to pay duty is set aside, sums paid in pursuance of the said order, would be automatically refundable
An assessee is entitled to refund of unutilized credit balance lying in his account on closure of his unit in absence of any bar
Cenvat credit available on defective goods returned to factory and used in process of re-manufacture
Issuance of Show Cause Notice is mandatory prior to adjudication of demand
Mere admission before the Settlement Commission couldn’t be sole ground to confirm demand in adjudication proceedings against the assessee
Assessee Can choose most beneficial Notification when 2 Notifications simultaneously applicable at a time
Cenvat credit is available on capital goods even if they are moved out temporarily from factory
CESTAT Circular on Pre-Deposit of Duty and Service Tax
CENVAT credit benefit based on STTG Certificate issued by the Indian Railways -Reg
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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
