Excise Duty
Log in to FollowExcise Duty Act, Rules Articles News Notification Circulars Instructions. Input Credit, Cenvat, Duty Rate, SSI Exemption, Excise on Jewellery,Excise on Garment
Excise Duty not payable by Job Worker on work undertaken which forms part of manufacturing process
CENVAT Credit allowed in respect of inputs contained in by-products
Demand cannot be confirmed by relying on third-party evidence not cross-examined
Cross examination of witness is mandatory in terms of Section 9D under Excise Act
Excise duty payable on amount received from Honda India due to cancellation of contract
Cenvat credit eligible on setting up of CHP for evacuation of coal by rapid loading process
SVLDR application cannot be rejected for mistakes due to technical glitches & in violation of Principal of Natural justice
Interest on refund of Service Tax Paid under protest payable from date of deposit till its realization
No Penalty for difference of views subsequently settled by any court of law
Cenvat Credit eligible on Litigation Expenses paid to Association
SVLDRS benefit cannot be availed if Excise Duty amount is neither quantified nor communicated
Cenvat eligible on structural steel items used for fabrication of support structures for capital goods
Cenvat Credit eligible on product recall insurance policy expense
Refund of wrongly reversed CENVAT credit cannot be rejected solely on the ground of non-filing of under protest letter
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
