Excise Duty
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Benefit of exemption notification 6/2002 available to the Tubular Plate Lead Acid batteries
CBIC amends Notification No. 22/2003 & 23/2003 Central Excise dated 31.03.2003
Scrap generated during the process of manufacture is not liable to excise duty
Cost of Corrugated Boxes supplied Free of Cost Includible in Transaction Value
CIRP already passed: CESTAT disposes appeal as per NCLT directions
Wheel of justice should not stop for filing of Appeal with SC if no stay been granted
Classification of service cannot be disturbed or challenged at the end of service recipient
CESTAT explains Test to determine unjust-enrichment
Extended period of limitation cannot be invoked if facts were known to Revenue
Rule 8(3A) of Central Excise Rules, 2002 ultra vires – CESTAT follows HC Ruling
Raw material supplier cannot be implicated for clandestine removal of goods by buyer
Validity of Penalty for wrong availment of CENVAT Credit on Employee
Penalties on both proprietorship firm & proprietor amounts to double penalty and hence unsustainable
Govt reduces SAED on Diesel to Rs. nil per litre wef 19.04.2023
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
