Excise Duty
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Scrapping the Apex Court decision on Scrap
Exempts goods falling within Chapter 69 and heading numbers 94.01, 94.02 and 94.03 from 1.9.1987 to 28.2.1989
Issuance of Licenses to manufacture cigarettes by Central Excise Department – reg
Center will re-look notification restricting excise duty exemption of industrial units in North-East region
Circular No. 904/24/2009-Central Excise, Dated: 28.10.2009
Government made available the facility for online registration and filing of Excise and service tax returns
Exemption of Excise duty leviable on specified goods affixed with brand name or trade name of another person
Central Excise Notification on exemption of packing material with brand name or trade name of another person
Circular on Classification of Textile quilted products like Quilts, Quilted bed spreads, etc for excise duty
Circular on value for payment of excise duty if goods are manufactured on job work basis
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
