2 Excise Duty Articles, News, Notification and Circular

Excise Duty - Page 493

Fraudulent availment of Modvat Credit – Preventive measures- Regarding

Circular No. 101/12/95-Central Excise 22/02/1995

Circular No. 101/12/95-CX Instances have been brought to the notice of the Board where modvat credit taken on inputs by the assessee was not reversed even after writing off of the materials on which the credit was taken. Cases have also been noticed where the credit had not been adjusted even though the write-off of the input materials h...

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Circular No. 100/11/95-Central Excise Dated 20/2/1995

Circular No. 100/11/95-Central Excise 20/02/1995

Circular No. 100/11/95-CX I am directed to say the question of delegating the powers to the Principal Collectors of Customs and Central Excise to reconstitute the Regional Advisory Committees for Organised Sectors and also for Small Scale Industries, in the Central Excise Collectorates, has been under consideration of the Board for the p...

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Awards disbursement within three months of sanction

Circular No. 99/10/95-Central Excise 20/02/1995

Circular No. 99/10/95-CX I am directed to say that while replying to a Parliament Question on sanction and disbursement of rewards, it has come to the notice of the Boards that there is considerable time lag between the date of sanction of the reward and the date of disbursement of reward. ...

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Circular No. 98/9/95-Central Excise, Dated: 20.02.1995

Circular No. 98/9/95-Central Excise 20/02/1995

Circular No. 98/9/95-CX I am directed to say that a number of complaints have been received from the trade circle to the effect that delay in clearance of AR4s. (under VBAL/QBAL) by the Central Excise officers, is adversely affecting the exports....

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“Tajima” brand Embroidery Machine- whether verticle type or not

Circular No. 97/8/95-Central Excise 13/02/1995

Circular No. 97/8/95-CX I am directed to refer to Board"s Circular No. 42/ 42/ 94-CX. (F. No. 58/1/93-CX.I) dated 7.6.94 on the subject noted above and to say that since "second para" of the said circular is not factually correct and is also not relevant to the issue discussed the same may be omitted from the said circular....

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Circular No. 96/7/95-Central Excise, Dated: 13.02.1995

Circular No. 96/7/95-Central Excise 13/02/1995

Circular No. 96/7/95-CX Rule 57G of Central Excise Rules deals with the accounting procedure for the persons issuing invoices under Rule 57G. It is necessary that transactions relating to goods invoices under Rule 57G. It is necessary that transactions relating to goods on which Modvat Credit is to be availed of are smoothly carried out...

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Instructions relating to issuance of invoice (s) under Rule 57G of Central Excise Rules

Circular No. 96/7/95-Central Excise 13/02/1995

Instructions relating to issuance of invoice (s) under Rule 57G of Central Excise Rules-Rule 57G of Central Excise Rules deals with the accounting procedure for the persons issuing invoices under Rule 57G. It is necessary that transactions relating to goods invoices under Rule 57G. It is necessary that transactions relating to goods on wh...

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Circular No. 95/6/95-Central Excise, Dated: 09.02.1995

Circular No. 95/6/95-Central Excise 09/02/1995

Circular No. 95/6/95- CX I am directed to refer to Board"s Circular No. 2/92-CX.1 (F.No. 54/9.92-CX.1) dated 31.12.92 wherein it was clarified that the Board"s Section 37-B order No. 8/92/ dated 24.9.92 cannot change the status of the past closed assessments. But, wherever cases are pending decision...

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Circular No. 94/5/95-Central Excise, Dated: 23.01.1995

Circular No. 94/5/95-Central Excise 23/01/1995

Circular No. 94/5/95-CX Certain doubts have been expressed as to whether manufacture of cast iron powder out of cast iron granules (72.05)/ cast iron turnings & borings (72.04) amounts to manufacture for the purpose of Section 2(f) of the Central Excise & Salt Act, 1944....

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Circular No. 93/4/95-Central Excise, Dated: 18.01.1995

Circular No. 93/4/95-Central Excise 18/01/1995

Circular No. 93/4/95-CX Attention is invited to Board"s Circular No. 11/91-CX. 6 dt. 3.7.91 relating to levy of additional excise duty under Finance Act, 1985 on TV sets. It was clarified in this Circular that Rule 13 does not permit export of goods without payment of duty leviable under the Finance Act, 1985 and in the absence of a spec...

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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