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
Cenvat Credit not admissible on insurance services pertaining to family members of employees
Penalty under Section 11AC of excise Act cannot be imposed mechanically
No compounded levy scheme on manually packed tin packing machine
Bench strength is determinative of binding nature of judgement: SC
No penalty under Rule 26 of Central Excise Rule if appellant not involved in clandestine production/removal
Excise Duty: Losses up to 1% allowed without detailed Scrutiny
CESTAT allows CENVAT credit on MS items used for fabricating & installing plant
Treat Interest paid prior to SCN as pre-deposit for SVLDR Scheme: HC
Cenvat Credit cannot be denied on final product treated as dutiable
Assertion of clandestine removal cannot be proved merely by testimony of some transporters
Limitation under section 11B not applies to Cess on paper
Denial of exemption under notification 50/2003-CE unsustainable
Notification No. 30/2022-Central Excise, Dated: 16.09.2022
Notification No. 29/2022-Central Excise, Dated: 16.09.2022
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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
