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
Central Excise (First Amendment) Rules, 2012 to Substitue rule 12CC of Central Excise Rules, 2002
CENVAT Credit (Second Amendment) Rules, 2012 to substitute Rule 12AA of Cenvat Credit Rules, 2004
Indirect Tax Revenue Collections During April, 2011 increases 14.6 pc
Assessee can claim CENVAT of duty paid by job worker on goods sent back
Duty paid mistakenly on exempted goods not make goods liable to duty – SC
Central Excise – Classification – Povidone Iodine Cleansing Solution USP and Wokadine Surgical Scrub classifiable under Chapter sub-heading 3003 – SC
CBEC Invites suggestions regards rising litigation with the taxpayer
Prior to 17th March 2012 No liability to pay interest if credit wrongly taken reversed before utilization
Clarification regarding levy of Excise duty on branded precious metal jewellery
Commissioner of Customs, Chennai Versus Denso Kirloskar Industries Private Ltd. (Supreme Court)
Whether penalty & interest can be levied if Excise duty been paid before issue of SCN
SC rejects revenue Appeal on the ground that the Revenue has not filed the appropriate papers
Departmental circulars not binding, Classification Which is beneficial to assesse should be Applied – Supreme Court
Budget 2012 – FM hopeful of meeting indirect tax collection target in FY12
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
