Excise Duty
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Seeks to amend specified Central Excise Tariff notifications
Notification seeks to amend Central Excise Rules, 1944 so as to make changes in CENVAT Rules
Notification seeks to prescribe the commodities to which MRP based excise levy is applicable and also abatement of retail price under section 4A
Seeks to exempt specified goods for NCC duty
Notification No. 4/2001-Central Excise; dated 01.03.2001
Seeks to prescribe effective rates for specified goods falling under Central Excise Tariff Act, 1985
Circular No. 572/9/2001-Central Excise, Dated: 22.02.2001
Circular No. 571/8/2001-Central Excise, Dated: 22.02.2001
Notification invests Commissioner, Customs, Delhi with powers of investigation and adjudication of cases arising from NOIDA Export Processing Zone
Circular No. 570/7/2001-Central Excise, Dated: 16.02.2001
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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
