Excise Duty
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Physical brand embossing not must, to be called as branded goods
Section 11C of Central Excise Act on Di-Calcium Phosphate (animal feed grade) of rock phosphate origin
Mandatory recovery of advertising cost should be included in AV
Inclusion of Advertising cost recovered in Assessable Value?
Effect of ‘in limine’ dismissal of SLP by Supreme Court
Budget 2016: Recapitulation Of Errors That Need Instant Rectification!
Whether Excise duty can be demanded jointly and severally?
Export of material/equipment under bond, without payment of Central Excise duty, for Kholongchhu Hydro-Electric Project (KHEP) in Bhutan allowed
Swachh Bharat Cess not to be paid out of Cenvat Credit & credit of service tax paid on sale of dutiable goods on commission basis
Excise duty not to be paid on transportation charges which are borne by buyers
Merely on the basis of papers/documents found from residence of Director/Employee, it cannot be concluded that the company has removed goods without payment of duty
Rule 21 of Excise Rules does not lay down any procedure for giving information within 24 hours
When proceedings against manufacturer stand concluded on payment of disputed amount of duty along with interest and penalty, no penalty would be imposable
Interest earned on deposits received by assessee from customers does not form part of assessable value where prices of goods are market driven and not determined on cost plus basis
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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
