Excise Duty - Page 400

Circular No. 136/47/95-CX Dated 12/7/1995

Circular No. 136/47/95-CX (12/07/1995)

Circular No. 136/47/95-CX The Hon'ble Supreme Court in its judgement dated 3.5.1995 in case of U.O.I & Others etc. v. the Madras Rubber Factory Ltd. & Ors. etc. have decided the issues relating to valuation matters and a copy of the jubgement has already Customs" letter F.No. 275 / 25/ 95-CX. *A dated 25.5.1995....

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Removal of tariff value for polyester filament yarn – Regarding

Circular No. 135/46/95-CX (05/07/1995)

Circular No. 135/46/95-CX I am directed to refer to notification No. 36/95-CE dated 16th March, 1995 which prescribed tariff values for polyester filament yarn. Notification No. 103/95-CE dated 4th July, 1995 has been issued rescinding Notification No. 36/95-CE with effect from 4th July, 1995. Consequently all polyester filament yarn, bo...

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High percentage of MODVAT credit taken on capital goods – Regarding

Circular No. 134/45/95-CX (04/07/1995)

Circular No.134/45/95-CX Subsequent to the issue of above instructions it has come to the notice of the Board that a substantial amount of Modvat credit has been availed on goods which are either not capital goods or which are capital goods but which have not been used for producing or processing of any goods or for bringing about any ch...

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Issuing of Invoices under Rule 57 GG for supplies to DEM- Regarding

Circular No. 133/44/95-CX (14/06/1995)

Circular No. 133/44/95-CX Representations have been received by the Board regarding difficulties in dispatching small consignment lots to each and every destination in the same vehicle used for transporting the goods from the factory of the manufacturer....

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Evasion of excise duty on fabrics – Regarding

Circular No. 132/43/95-CX (14/06/1995)

Circular No. 132/43/95-CX I am directed to invite your attention to the Notification No. 83/95-CE dated 24.4.95 which amends Notification Nos. 38/95-CE, 40/95-CE and 43/95-CE, all dated 16.3.1995 so as to remove the restriction on having facilities for bleaching, prating and dyeing for availing of the benefit of exemption under the above...

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Measures to avoid misuse of Modvat credit – reg

Circular No. 131/42/95-CX (09/06/1995)

Circular No. 131/42/95-CX I am directed to refer to Board"s Circular No. 12/93-CX.8 dated 02.11.1993 issued from F.No. 267/45/93-CX.8 on the above mentioned subject and to say that while verifying the genuineness of the extracts of RG-32A Part - I and II and the originals of duty paying documents and before the defacement of the latter t...

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Changing designation of Collector to Commissioner

Notification No. 26/1995-Central Excise (N.T.) (06/06/1995)

Notification under Section 37 - In exercise of the powers conferred by section 37 of the Central Excises and Salt Act, 1944 (1 of 1944) and of all other powers enabling it in this behalf the Central Government hereby directs that references to any authority specified in column 2 of the Table below in the rules made or deemed to have been...

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Interest on delayed refunds (proposed Section 11BB) – Regarding

Circular No. 130/41/95-CX (30/05/1995)

Circular No. 130/41/95-CX Your attention is invited to the Finance Act, 1995 wherein a new section 11BB under Central Excise & Salt Act, 1944 wherein a new section on delayed refunds. Which the enactment of the Finance Act, the the Department has become liable to pay interest at the prescribed rate in case of various types of refund whic...

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Circular No. 129/40/95-CX Dated 29/5/1995

Circular No. 129/40/95-CX (29/05/1995)

Circular No. 129/40/95-CX The new Central Excise rule No. 12(1) (b) has been framed to grant rebate of EC duty paid on raw materials /inputs used in the manufacture of the finished goods exported from India. The new Rule 12(1)(b) thus incorporates in it the erstwhile reels 12 A and 191A of the Central Excise Rules, 1944. A fresh notifica...

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Circular No. 128/39/95-CX Dated 25/5/1995

Circular No. 128/39/95-CX (25/05/1995)

Circular No. 128/39/95-CX I am directed to refer to Board"s Circular No. 15/88-CX.I (F.NO. 13/7/88-CX.I) dated 25.4.88 wherein it was clarified that Board considers Zari and Zari items as "handicrafts" eligible for exemption under Notification No. 76/86 dated 10.2.86....

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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