CA, CS, CMA : A comprehensive review of significant developments across Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and RBI. The update hig...
Excise Duty : India reduced excise duty on petrol and diesel to offset rising global crude prices due to geopolitical tensions. The move aimed t...
Goods and Services Tax : Budget 2026 revamps Customs, Excise, and GST to simplify compliance and boost exports. The key takeaway is a trust-based, technolo...
Goods and Services Tax : The Bill introduces relief on post-supply discounts, export taxation, refunds and intermediary services. It also simplifies custom...
Excise Duty : Discover how the Central Excise (Amendment) Act, 2025 revamps tobacco taxation, introducing steep excise duties on cigarettes, che...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
Excise Duty : A special court imposed five years’ rigorous imprisonment and heavy fines after finding assets far beyond known income. The ruli...
Excise Duty : The FAQs clarify how excise duty on chewing tobacco, jarda, and gutkha will be levied based on packing machine capacity rather tha...
Income Tax : MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2025 FINANCE BILL, 2025 PROVISIONS RELATING TO DIRECT TAXES Introduction...
Custom Duty : Article contains Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023 and Explanatory Memora...
Excise Duty : CESTAT Hyderabad held that rule 7 of Cenvat Credit Rules, 2004 is just a procedure and procedural lapse cannot be ground to deny t...
Excise Duty : CBIC has amended Notification No. 08/2026-Central Excise to revise the SAED rate on ATF exports outside India to Rs. 12.5 per litr...
Excise Duty : CBIC has amended Notification No. 06/2026-Central Excise to revise the SAED rate on diesel exports outside India to Rs. 14 per lit...
Excise Duty : Notification No. 29/2026-Central Excise grants Nil Agriculture Infrastructure and Development Cess on E22, E25, E27 and E30 petrol...
Excise Duty : Notification No. 28/2026-Central Excise exempts E22, E25, E27 and E30 petrol blends from additional excise duty in the form of Roa...
Excise Duty : Notification No. 27/2026-Central Excise extends Nil special additional excise duty benefits to E22, E25, E27 and E30 petrol blends...
It has been provided that if the RSP is not affixed or marked on goods when they are cleared in the course of sale from the factory of a manufacturer to the brand owner, the wholesale price declared by the manufacturer would be deemed to be the tariff value for the payment of duty. This has been provided through the insertion of a proviso in Notification No.20/2001-CE (NT), dated 30th April, 2001 through amendment Notification No. 12/2011-CE (NT), dated 24th March, 2011. Since the process of labelling or re-labelling constitutes a process of “manufacture”, duty on the tariff value (based on the actual RSP) would once again be payable as and when the brand owner labels the goods with the RSP and clears them for further sale. The garments purchased by the brand owner being duty-paid, he would also be entitled to claim credit and utilize that for the payment of duty when he clears the goods after affixing the RSP.
Provided that the exemption contained in this notification shall apply subject to the following conditions, namely:- i. no Cenvat credit of the duty paid on such returned goods is taken under the provisions of rule 16 of the Central Excise Rules,2002; ii. an intimation containing the details of the document under which goods are returned and their value, is submitted to the jurisdictional Central Excise authority, within 48 hours of the receipt of the returned goods in the factory or premises ; and iii. a proper account of receipt and disposal of such goods is maintained and accounted for in the monthly return. iv. the aggregate value of goods cleared from a factory or premises under this exemption in a financial year does not exceed
Notification No.30/2011-Central Excise- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise Goods of Special importance) Act, 1957(58 of 1957) the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 30/2004-Central Excise, dated the 9th July, 2004 published in the Gazette of India, Extraordinary, vide G.S.R. 421 (E), dated the 9th July, 2004, namely:
Notification No. 29/2011-Central Excise – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notif ication of the Government of India in the Ministry of Finance (Department of Revenue), No. 63/95-Central Excise, dated the 16th March, 1995 which was published in the Gazette of India, Extraordinary, vide G.S.R. 255 (E) dated the 16th March, 1995, namely: –
Notification No. 28/2011-Central Excise – In exercise of the powers conferred by sub-section (2A) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 8/2003-Central Excise, dated the 1st March, 2003 published in the Gazette of India, Extraordinary, vide G.S.R. 138(E), dated the 1st March, 2003, namely: –
Notification No. 12/2011-Central Excise (N.T.)- Relaxation in Tariff value in case of branded readymade garments – tariff value reduced from 60% to 45% and tariff value shall be equal to transaction value in case of job work, transaction between job workers and merchant
Notification No. 27/2011-Central Excise- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts waste, parings and scrap aris ing in the course of manufacture of goods in respect of which the benefit of exemption under notification no. 1/2011-Central Excise dated the 1st March, 2011 or notification no. 20 /2011 –Central Excise dated the 24th March, 2011 is availed and falling within the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), from the whole of the duty of excise leviable thereon which is specified in the said Schedule :
In exercise of the powers conferred by sub-sections (1) and (2) of section 4A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 49/2008-Central Excise (N.T.), dated the 24th December, 2008, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 882(E), dated the 24th December, 2008, namely :-
Notification No. 26/2011-Central Excise -In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notif ication of the Government of India, in the Ministry of Finance (Department of Revenue), No. 6/2006-Central Excise, dated the 1st March, 2006, published in the Gazette of India, Extraordinary vide number G.S.R. 96(E) dated 1st March, 2006, n
Notification No. 25/2011-Central Excise – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 5/2006-Central Excise, dated the 1st March, 2006 which was published in the Gazette of India, Extraordinary, vide G.S.R. 95(E) dated the 1st March, 2006, namely
