Excise Duty
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Notification No. 22/2015-Central Excise Dated- 17th April, 2015
Transit Sale – Dealer Registration is not mandatory
Re-credit of CENVAT reversed on instructions of Revenue without any dispute is allowed
Value of clearances to Loan Licensees not includible while determining SSI status
Doctrine of Unjust Enrichment will be applicable in case of refund of duty paid on Capital goods which are captively consumed
Limitation period under Excise Act not applicable to rebate claim filed
Amendment to Rule 11 of Central Excise Rules, 2002 wef 01.03.2015
CBI arrests 2 excise officers in bribery case
Excise Duty- Service Export from India Scheme (SEIS) under FTP 2015-2020
Excise- Merchandise Export from India Scheme (MEIS) under FTP 2015-2020
Raising of same grounds in 2nd round of ligation which were disposed in 1st round and no appeal been filed
Suppression of facts cannot be alleged when all relevant facts were in knowledge of Department
Nearest time, in terms of Rule 7 of the Excise Valuation Rules
Condition for availing duty exemption for Capital goods cleared against SHIS duty credit scrip
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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.
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