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
Govt Prescribes Road Cess Rates on Exported Petrol, Diesel
CBIC Exempts Excise Duty & AIDC on Petrol, Diesel and ATF for Exports
ATF Exempted from Special Additional Excise Duty
SAED Rate Fixed for ATF Cleared for Export
₹50 Per Litre Excise Duty Imposed on Aviation Fuel with Immediate Effect
Petrol Gets Nil Excise Duty While Diesel Fixed at ₹18.5/Litre with Export Limits
SAED Reduced on Petrol, Diesel for Domestic Supply
Service Tax Demand Upheld Due to Correct Classification Under Works Contract Service
CESTAT Set Aside Penalty on Co-Noticees Due to Settlement by Main Noticee Under SVLDRS
Cenvat Credit Demand Quashed Due to Lack of Evidence of Non-Receipt of Goods
No Excise Duty on Waste & Scrap Due to Non-Qualification as Manufactured Goods: CESTAT Chandigarh
CESTAT Ahmedabad allows Cenvat Credit in Single Unit Due to Optional Distribution Rule
CENVAT Credit Demand Set Aside Due to Absence of Suppression & Time-Barred Notices
CENVAT Credit Allowed as No Proportionate Distribution Requirement Pre-2012
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
