Excise Duty
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Notification 64/93-CE dated 28.2.93 as amended by Notification 11/94-CE dated 1st March, 1994- Regarding
Central Excise – Clarification of plastic grills used in air conditioners – Regarding
Circular No. 120/31/95-Central Excise, Dated: 01.05.1995
Circular No. 119/30/95-Central Excise, Dated: 25.04.1995
CVC”s advice for need to change the system of approving of Price Lists – Regarding
Dutiability of Car Mattings made from non-woven materials in roll form – Regarding
Circular No. 116/27/95-Central Excise, Dated: 06.04.1995
Facbrics woven from Bleached, Dyed Yarn – Dutiability – Regarding
Central Excise – Notification No. 77/95-Central Excise* and 78/95-CE both dated 3rd April, 1995 reg.
Instructions relating to issuance of Invoice (s) under Rule 57-G of Central Excise Rules -Regarding
Central Excise – Notification No. 75/95-Central Excise, Dated: 24.3.95 – Reg
Reconciliation of Accounts by Chief Accounts Officers – System defects – Regarding
Central Excise- Notification No. 74/95-Central Excise, dated 20th March, 1995-Reg
Central Excise – Notification No. 73/95-Central Excise, dated 20th March, 1995 reg
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.
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