Excise Duty
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Indirect tax collections grew by 43% in the first quarter of current fiscal
Central Excise Circular No. 930/20/2010-CX, Regarding tolerance of breakage of bottles due to handling during storage and clearance
Commissioner of Central Excise Versus Lalit Steel and Agro Industries (HC of Punjab & Haryana)
Summary of Central Excise Notifications 25/2010, 28/2010 , 29/ 2010 and Clean Energy Cess Notifications
Exporter demands refund of taxes on diesel
Notification No. 27/2010-Central Excise (N.T.); Dated: 01.07.2010
Notification No 26/2010 CE(N.T.); dated: 29.06.2010
Classification of Polyester Staple Fibre manufactured out of PET scrap and waste bottles – Circular No. 929/19/2010-CX
Rule 5 of the Cenvat Credit Rules, 2004 – Refund of Cenvat Credit – Amendment to Notification No. 42/2001-CE (NT), dated 26-6-2001
Patna HC issues directive on alleged excise scam
CVC advises major penalty against 15 officers from Central Board of Excise & Customs
Compound levy on SS Patta/Patti units – Controversy continues-
Notification No. 29/2010-Central Excise; Dated: 22.06.2010
Notification No. 28/2010-Central Excise; Dated: 22nd June, 2010
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
