Excise Duty
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Discretionary Penalties Shouldn’t Burden Compliant Assessees: CESTAT Chennai
Unconstitutional Excise Duty Collection by Central Government: 16/09/2016 to 30/06/2017
Flue Gas generated during manufacture of metallurgical coke is not a manufactured product
CESTAT Chennai upholds rebate for Vedanta Ltd on exported Anode Slime
CESTAT Allows Excise Duty Exemption for Pre-Laminated Bagasse Board
CESTAT Quashes Excise Duty Demand on Third Party Inspection Charges
Mere technicalities shouldn’t thwart right to a fair hearing: CESTAT Allahabad
Procedural error leading to short payment shouldn’t result in hefty penalty for director: CESTAT
Sugar cess paid on import of raw sugar duly available as cenvat credit
No Excise Duty on Steel Structures forming part of Permanent Civil Construction: CESTAT
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
