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
Quantity discount deductible in determination of assessable value
Penalty cannot be levied unless evasion of duty alleged in SCN
Utilisation of Accumulated Cenvat credit as on 10.09.2004
Cenvat Credit can be claimed on the basis of photocopy of duty payment document
Supply of goods to Indian Navy not must to claim excise exemption
Transport Ministry can certify excise exemption on goods required for execution of highway projects
CENVAT of Inputs & Input services for producing electricity captively consumed allowed
Internal Financial Controls and Indirect Taxes
No CENVAT reversal under Rule 6 on SEZ supply wef 10/09/2004
PDI & free ASS charges should not be included in assessable value – SC
CENVAT credit on foreign commission to Foreign Agent allowed
Excise duty rate should be rate prevalent at the time of clearing
Process of cold-rolling of hot-rolled stainless steel patta/patti amounts to manufacture-SC
CBI arrests excise Superintendent and 2 Inspectors in bribe case
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
