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
Excise Audits have adequate Statutory Backing
Cenvat credit is available on capital goods used for manufacture of exempted intermediary products which are used in turn for manufacturing of dutiable final product
Distribution of Cenvat credit by Zonal office to branches cannot be denied merely because it did not obtain Service tax registration
Interest allowable on refund of pre-deposit
Service Tax assessees, will continue to be mapped in ACES to existing location codes
A consignment agent who is free to sell goods to customers cannot be made taxable under Clearing and Forwarding services
Action-Plan Of CBEC To Evolve Non – Adversarial Indirect Tax Administration
CBEC- Regarding discontinuation of certain monthly reports from field formations
Present reporting system suffers problem of unreliability & susceptibility to error – CBEC
CBEC discontinues Certain Reports
Excise audits to continue, HC scrapped only Service Tax Audits – CBEC
Demand of duty on clandestine removal of excisable goods cannot be confirmed solely on the basis of presumptions and assumptions
Cenvat Credit on plastic crates used for safe transportation of finished goods is allowable
Regarding Section 11C exemption to Rosin / Turpentine Oil
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
