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
Issue of Service Tax and Excise Bills with Digital Signature & Maintenance of Records in Electronic Format
Cenvat Credit admissible even if Inputs are discarded during manufacturing process- SC
SSI Exemption available to job worker on goods manufactured under Brand name of Principal manufacturer – SC
Doctrine of Unjust Enrichment applicable on capital goods captively consumed – SC
Modvat cannot be denied only the basis of statement recorded without providing assessee opportunity to cross examine evidences
No full waiver of pre-deposit unless assessee proves that undue hardship is caused
Cutting of jumbo rolls into smaller sizes and printing on them does not amount to manufacture
Mere Cutting of jumbo roll of paper into smaller size is not Manufacture: HC
Manufacture Under Central Excise Act
Condition of pre-deposit by CESTAT not justified if, prima facie, revenue contention seems to be loggerhead
In case of doubt on dutiability of goods, extended period of limitation cannot be invoked
Exemption notification to be strictly interpreted and interpretations given elsewhere cannot be imported therein
CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records
Regarding Digitally signed invoices in Central Excise and Service Tax-Conditions, safeguards and procedures
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
