Excise Duty
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Removal of Goods as Such and Restricted Related Cenvat Credit Provision
When assessee’s claim for allowance of CENVAT Credit is pending then application for refund of the same cannot be time barred
CBEC threatens action against striking Excise Superintendents & Inspectors
Patta Patti manufacturers – Tempted to opt Cenvat Scheme
Notification No. 13/2013- Central Excise; dated: 25.03.2013
Excise Inspectors not to attend office on 29th, 30th and 31st March’13
Customs and Excise Offices to be open on 29th,30th & 31st March
Deliberate default in Payment or non levy of duty must to attract extended period- SC
CBI arrests Central Excise superintendent in bribery case in Thane
Duty on removal of Capital Goods after being used or cleared as waste or scrap is unconstitutional
Despite no financial hardship plea court may grant waiver of pre-deposit on merits
HC has power to condone delay beyond the period of 180 days if sufficient cause exists
DGCEI, Chennai recovers Rs. 100 Crores voluntarily from evaders of Central Excise duty and service tax
Notification No. 05/2013-Central Excise (N.T.) ; Dated : 06.03.2013
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
