Excise Duty
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Extended Demand Period unsustainable Without Tax Evasion Intent
Penalty u/s. 11AC(1)(a) leviable due to shortage detected during search: CESTAT Delhi
CESTAT Mumbai orders Pre-deposit refund verification, remanded case for fresh proceedings
Settled refund claims remain unaffected by SC ruling that overrules a prior judgment
Extended period not invocable as notice didn’t alleged wilful suppression and misstatement
Calcutta HC Upholds CESTAT’s Dropping of Demand Despite Lack of Survey Report
Govt exempts export of Petrol and Diesel from RIC when exported to Bhutan
Govt exempts export of Petrol and Diesel from SAED when exported to Bhutan
Govt exempts export of ATF from SAED when exported to Bhutan
Windfall tax on crude petroleum reduced to Rs 1850/tonne wef 31.08.2024
No suppression as entire facts known to department while issuing first notice: Karnataka HC
Denial of Cenvat Credit merely due to incorrect address on invoice not justified: Delhi HC
Sugar boiled confectionery Kopiko classifiable under tariff heading 1704
Appeal Dismissed Over Monetary Limit by Calcutta HC
Latest Excise Duty News
Find out all the latest news on Excise Duty here at Taxguru.in. Read all the relevant excise duty notifications and excise duty articles only with Taxguru.
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
