Excise Duty
Log in to FollowExcise Duty Act, Rules Articles News Notification Circulars Instructions. Input Credit, Cenvat, Duty Rate, SSI Exemption, Excise on Jewellery,Excise on Garment
Interest amount not held as payable under SVLDR Scheme is to be refunded back
Duty not payable on scrap not generated from manufacturing process or cenvatable input/ capital goods
Cenvat Credit to purchaser cannot be denied on mere allegation of non-existence of seller
Cenvat Credit eligible on Computer Server & Housekeeping Services at office
No duty payable on WIP/semi-finished goods lying at time of de-bonding of EOU
Demand to pay NCCD after limitation period under Section 11AC not sustainable
Mere Detection of Contravention during Audit not sufficient to invoke extended period of Limitation
No one-to-one requirement correlation to claim Cenvat Credit
Refund hit by unjust enrichment if no documents produced to prove non-passing of incidence of Duty to Buyers
Appeal abates with effect from date of approval of resolution plan by NCLT
Adjudicating authority supposed to give details of methodology in stock taking
Providing blank LRs for passing of fraudulent cenvat credit- CESTAT upheld Penalty
Interest eligible on refund of excess reversal of cenvat credit if not sanctioned within 3 Months of application
CENVAT credit eligible on Freight, if included in assessable value & not separately charged
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
