Excise Duty
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Process of mixing of thermol and mixed oil doesn’t amount to manufacture
Exemption Notification No. 30/2004-CE is not an absolute exemption
Cenvat Credit balance will not lapse only if product is exempted conditionally
Cenvat Credit lapse only if product is exempted absolutely under Section 5A of Central Excise Act
Notification No. 30/2004-CE dated 09.07.2004 is a conditional notification
Offence of money-laundering is not trivial in nature
Procedural lapses cannot be ground for denying substantive benefits
CBIC issues instruction to look into CAG report on SVLDRS 2019
BUDGET 2023- Analysis of Excise Duty related amendments
Govt increases SAED on Diesel to Rs. 6 per litre
SAED on production of Petroleum Crude & export of ATF increased wef 4.2.2023
Department cannot raise demand without examining reversal of Cenvat credit & calculating proportional credit
CNG exempted from so much of duty of excise leviable on amount of GST paid on Biogas blended with CNG
Bar of Cenvat credit lapse not applies to conditional exemption – Rule 11(3)
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
