Excise Duty
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SC explains Excise Valuation Principal for under Invoiced Goods pre & Post 01.07.2000
An open letter to Union Minister of Finance for opening a window to pay under SVLDRS
Any additional payment over & above invoice value includible in transaction value: SC
SVLDRS 2019- A Scheme to reduce litigation is creating litigation of its own
Person Eligible for SVLDRS, 2019 even if Amount quantified on or before 30.06.2019 gets Modified Subsequently
Interpret SVLDR Scheme liberally to allow Businesses to Make Fresh Beginning
Solvency certificate can be insisted for Grant or Renewal of Excise Licenses of Liquor
CESTAT explains exercise of Option under Cenvat Credit Rule 6(3)(i)
HC imposes cost of One Lakh on erring officers for delay in tax refund
Interpret Dispute Resolution Scheme (SVLDR 2019) fairly: HC
Actual Cost of Production as Assessable Value will be charged in Inter-Unit Transfer of Goods
Provide details of declarants willing to pay dues as per SVLDRS 3
Cenvat Credit refund denial for Mere Non-Registration of Premises is unjustified
HC quashes SVLDRS-3 communication during Lokdown without proper hearing
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
