Excise Duty
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Govt reduces SAED on Diesel to Rs. nil per litre wef 19.04.2023
Govt increases SAED on production of Petroleum Crude to Rs. 6400 per tonne
Pre-deposit payment method for cases pertaining to Central Excise & Service Tax -Reg.
Clearance of two entities having same partners is to be clubbed for SSI exemption limit
Abating for fraudulent availment of Cenvat credit – CESTAT sustain penalty
Balance left over in PLA is not covered by limitation
Excise duty on scrap can be paid by utilizing CENVAT Credit account
No penalty for unintentional Availment of Irregular CENVAT Credit
CENVAT on Rent-A-Cab & Outdoor Catering availed for employees transportation & food is available
Govt cannot recover Tax dues owed to them from Corporate Debtor accruing prior to transfer date
HC explains circumstances when bail already granted can be cancelled
No service tax section 78 penalty in revenue neutral situation
No excise duty exemption on Machine Dipped Match Splints if power was used in manufacture
Clandestine Removal of Goods – Absence of corroborative evidence – CESTAT deletes penalty
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
