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
No Cenvat Credit on Capital Goods for which full Depreciation is claimed under Income Tax
Reversal formula of ITC on exempted supplies applicable to ‘common input tax’ credit
Credit cannot be denied on the basis of faulty investigation
Rule 6(3A) proportionately divide the credit taken on common input services and credit attributable to exempted service was denied
Interest on delayed refund of revenue deposit – CESTAT directs interest @ 12%
HC directs Hindustan Coca-Cola to Reply show cause-cum-demand notice
Interest on refund amount u/s 11BB to be sanctioned after delay of 3 months by respective authorities
Rejection of application for special rate fixation for delay: HC Stays demand
HC quashes decade old SCN proposing to recover deficit in excise duty payment
Abatement of duty cannot be withheld for failure of Excise Superintendent to draw proper proceedings
No demand in terms of rule 6(3)(i) of Cenvat Credit Rules if exercised option under rule 6(3)(ii)
Issue not raised in SCN, cannot be imported into adjudication or Appeal order
Cenvat eligible on Service Tax paid on GTA Services for Transportation of Goods from Factory to Customers Premises
Legitimate export incentive given to exporters cannot be denied merely for GST implementation from 1-7-2017
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
