Excise Duty
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Freight & handling charges separately shown in invoice not includible in assessable value
Duty demand unsustainable in absence of under-valuation in costing of the product
Value of bought out items supplied with manufactured goods not includible in assessable value
‘MIRACULAN’ containing 0.05% Traicontanol is product under category of insecticides
Govt reduces SAED on production of Petroleum Crude to Rs. 4100 per tonne
Denying cross examination of witnesses and non-supplying of records renders proceeding untenable
Appeal can be filed against Excise Superintendent letter denying benefit
Suo motu availment of Cenvat Credit reversed during Litigation: CESTAT Remands Matter back to adjudicating authority
If a new & distinct commodity known to Market is produced, the process amounts to manufacture
Insurance claim have no bearing on claim for remission of duty
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
