Excise Duty
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Seeks to amend Notification No. 49/2008-CE (NT), dated 24th December, 2008.
Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Second Amendment Rules, 2014
Changes In Cenvat Credit Rules, 2004- 6th Amendment Rules, 2014
Central Excise Valuation (Determination of Price of Excisable Goods) Amendment Rules, 2014
Central Excise (Third Amendment ) Rules, 2014
Resident private limited company specified as class of person for the purpose of Advance Ruling
Recession of Notification No.3/2010, dated the 22nd June, 2010 – Effective rate of Clean Energy Cess leviable on goods
Reg. Excise Exemption to all capital goods and specified inputs if captively consumed within the factory of production
EOUs/EHTP/STP Units – Excise Exemption on Goods Cleared to DTA – Exemption extended to Education Cess
Amendment in Notification no. 49/2008 dated 24-12-2008 – MRP bases duty of Excise – Prescribes rate of abatement
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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
