Excise Duty
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Exemption to Motor Spirit and High Speed Diesel Oil from Special Additional Excise Duty
Exemption for goods falling under heading No. 09.02 of First Schedule to Central Excise Tariff Act, 1985
Rescinds Notification No. 32/2001-C.E., Dated 28-6-2001
Exemption for specified goods falling under Chapters 51 to 63 of First Schedule to Central Excise Tariff Act,1985
Supersedes Notification No. 11/2001-C.E., dated 1-3-2001
Notification No. 13/2002-Central Excise ; Dated : 01.03.2002
Rescinds Notification No. 1/2002-C.E., dated 11-1-2002
Notification No. 11/2002-Central Excise Dated: 1st March, 2002
Prescribes effective rates wherever duty rate has been reduced in Tariff.
SSI exemption scheme effective from1.4.2001 for units availing Cenvat credit
SSI exemption scheme effective from 1.4.2002 for units not availing Cenvat credit.
Amends Notification No. 34/2001-C.E., dated 28-6-2001
Prescribes effective rate of duty on specified goods falling under various chapters of First Schedule to Central Excise Tariff Act, 1985
Circular No. 625/16/2002-Central Excise, Dated: 28.02.2002
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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
