Excise Duty
Log in to FollowExcise Duty Act, Rules Articles News Notification Circulars Instructions. Input Credit, Cenvat, Duty Rate, SSI Exemption, Excise on Jewellery,Excise on Garment
Budget 2011-Central Excise-Rate structure for goods, other than petroleum
Budget 2011- Prescribes Effective Rate of Excise Duty
Notification No. 3/2011-Central Excise (N.T.), Dated 1-3-2011
Budget 2011- Branded garments to cost upto 15 Percent more on excise duty
Mobile phones to cost more from Apr1- FM Mukherjee
130 new items under excise duty, Mandatory on Readymade Garments- Budget 2011-12
Budget 2010-11- Excise and Custom Duty Exemption and Concession
Items used in manufacture of capital goods & parts thereof eligible for CENVAT credit
Budget 2011- Government incentivises electric, hybrid vehicles
In case of wrong availment of CENVAT Credit Interest payable from date of availment and not from date of utilization- SC
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
