Excise Duty
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Liability of interest where CENVAT credit was wrongly taken but reversed by assessee before utilization
Circular No. 896/16/2009-Central Excise, Dated: 01.09.2009
Credit cannot be denied on ground that, documents were not in the name of assessee’s factory
Notification No. 24/2009-Central Excise; Dated: 31.08.2009
Circular No. 895/15/2009-Central Excise, Dated: 27.08.2009
CBI filed charge sheet against Ex-Central Excise Commissioner
Facility of advance ruling on service tax and excise matters extended to PSU and resident Indian companies
Poor drafting of Cenvat credit Rules leading to litigations and conflicting decisions by various benches: SC
Punjab State Excise and Taxation department unearthed bogus sale of 656 crore
Government proposed excise waiver and income-tax holiday benefit to power projects based on super critical technology
Modification in Circular No. 569/6/2001-CX dated 09.02.2001 regarding the Special Procedure for Removal of Liquid Gases-Pass-out System.
This notification extends the advance ruling scheme to certain category of residents
Regarding excise duty on dough for preparation of Baker’s wares of Heading no. 1905
Notification No. 19/2009-Central Excise (N.T.); Dated: 17.08.2009
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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
