Excise Duty
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Notification No.34/2011-Central Excise; dated: 19.07.2011
Notification No. 17/ 2011-Central Excise (N.T.); dated: 18/07/2011
Format of Form E.R.1 / E.R. 3 for monthly / Quarterly return for production and removal of goods and other relevant particulars and CENVAT credit
SC asks CBDT and CBEC to draft uniform policy on appeals in lost cases
Transferred Officers not Relieved – CBEC viewed non-compliance of its orders very seriously
CBI arrests an Inspector of Central Excise in a bribery case
Small Scale Unit (SSI) and Clubbing of Turnover
Constitution of Senior and Junior Standing Counsels for handling Indirect Tax Cases before HC
Applicability of Circular No. 845/03/2006-CX dated 1.02.2007 on textile products falling under Chapter 55 – regarding
Prescribes simplified form for quarterly return of excisable goods cleared @ 1% Excise duty
Notification related to Diesel and cinematographic film – Notification No. 33/2011-Central Excise
No excise duty on school uniforms, towels – CBEC
Clarification on issues pertaining to the levy of excise duty on branded readymade garments and made-up articles of textiles
Speech by Chairman-CBEC on Annual Conference of Chief Commissioners and Directors General, 2011
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
