Excise Duty
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Bagasse Not Dutiable; Rule 6(3) of CCR, 2004 Not Applicable
SAED on Petroleum Crude increased to ₹7000 per Tonne from 16.07.2024
Minute Maid Nimbu Fresh Classifiable as fruit pulp or fruit juice based drink
Revised Monetary Limits for Adjudication in Central Excise for commodities
HC directs Reconsideration of L-10BB License Liquor Renewal Amid Policy Changes
SAED on Petroleum Crude increased to ₹6000 per Tonne from 02.07.2024
Technical glitch in Payment: HC directs department to issue Form SVLDRS-4
Non-Communication Leads to Lapse of SCN Transferred to Call Book
Mere change in tariff classification due to processing not automatically translate to ‘manufacture’
Installation of Capital Goods in Procurement Year not mandatory to avail CENVAT Credit
CENVAT credit account amount should be refunded in cash: Bombay HC
SAED on Petroleum Crude Production Reduced to ₹3250 per Tonne from 15.06.2024
Deduction of trade discount from assessable value is admissible on CNG sale transactions
SC Stays Variation of Stay Order in Marwadi Shares and Finance Ltd. Case
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
