Excise Duty
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Vijay Mallya meets CBEC chief to get accounts de-freezed
Indirect tax collection rises 16.8 percent during the first eight months of the current fiscal
Govt hopes to achieve indirect tax collection target of over 4 lakh crore for 2011-12
Notification No. 29 CE – Export procedure under Notification No. 45/2001 to apply to only export to Bhutan
Removal of intermediate goods without payment of duty allowed for export to Nepal
Procurement of excisable goods without payment of duty for use in manufacture of export of goods to Nepal allowed when payment is in Indian Rupee
Notification No. 26/2011-Central Excise (N.T.) Dated- 05.12.2011
Notification No.20/2004 which granted rebate to Nepal Government rescinded
Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012
JM Shanti Sundharam becomes Fourth Lady member of CBEC in Six member board
Seeks to exempt excise duty on pile liners fabricated at the site of construction for use at the marine site
CBEC invites Comments/suggestions on ‘Draft Adjudication Manual’
CBI Arrests Central Excise Inspector in Bribery Case
Value of free issue materials – Commissioner to record a clear finding as to whether for the tubes cleared during the three relevant periods, the caps were supplied by the customers of the appellant free of cost – Supreme Court
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
