Excise Duty
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Bagasse is an agricultural waste/ residue & is not result of any manufacturing process
Zymegold Plus and Dripzyme are classifiable under CTH 3101 as fertilizer
CENVAT Credit on free warranty service provided via dealer duly available to manufacturer
Extended period of limitation cannot be invoked if issue on merit decided in favour of Assessee
Time bar not apply to refund of duty paid by mistake
SAED on production of Petroleum Crude reduced to Nil wef 16th May, 2023
Jute Cess payable only when goods are removed from factory
Conversion of One Stage of Yarn into Another not amounts to Manufacture
Excise Duty based on ACP fixed by Commissioner payable unless Assessee submit evidence of Actual production
CESTAT on disallowance of CENVAT Credit attributable to trading activities
Disallowance of expense already disallowed by Assessee amounts to double disallowance
Manufacturer shall not avail CENVAT Credit if refund claim is filed under Notification No. 41/2007-ST
Reversal of Cenvat credit at appellate stage before CESTAT complies notification no. 5/2006-CE
Ashwini Homeo Arnica Hair Oil classifiable as ‘medicament’ under Chapter 30
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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
