CA, CS, CMA : Summary of key tax and regulatory updates for the week ending 30th March 2025, covering income tax, GST, customs, SEBI, RBI, DGFT,...
CA, CS, CMA : Summary of tax and regulatory updates: income tax bonds, GST rulings, SEBI amendments, customs tariffs, and DGFT trade policy chan...
Custom Duty : The Union Budget 2025 introduces changes in Customs duties, excise, and tax rates, focusing on tariff rationalization, support for...
CA, CS, CMA : Explore tax & GST updates for Nov 25–Dec 1, 2024, including safe harbour for diamonds, GST e-invoicing, HC rulings, Section 194N...
CA, CS, CMA : Stay updated with key notifications and circulars on Income Tax, GST, Central Excise, Customs, DGFT, and SEBI issued between 29th ...
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...
Custom Duty : Articles explains Explanatory Memorandum To Notification Nos. 02 To 15-Customs Dated 1st February, 2022, Notification Nos. 07/2022...
Excise Duty : Finance Minister has introduced the Finance Bill, 2022 in Lok Sabha today, that is 1st February, 2022. Changes in Customs, Central...
Custom Duty : Govt has issued following notifications related to Excise and Custom duty to give effect to Provisions of Union Budget 2021- ̵...
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 sets up interim boards for settlement across Delhi, Kolkata, Mumbai, and Chennai, appointing principal chief commissioners an...
Excise Duty : Four Interim Boards for Settlement under Central Excise Act established in Delhi, Kolkata, Mumbai, and Chennai by CBIC notificatio...
Excise Duty : Indian government revises central excise duty on petrol to Rs. 13/litre and diesel to Rs. 10/litre, effective April 8, 2025....
Excise Duty : CBIC assigns post-GST legacy excise and service tax appeals to designated officers for adjudication. Details available in attached...
Excise Duty : Govt extends provisions under Excise Notification 11/2017 from 2025 to 2026. Changes take effect on February 2, 2025....
Cir. No. 35/35/94-CX Board has received the references regarding procedure to be followed in case prosecution to be launched where there is one. Adjudicating Officer for number of factories located under jurisdiction of different Collectorates.
Circular No. 34/34/94-CX I am directed to state that after the introduction of invoice-based assessment procedure, a number of representations have been received from various quarters on the implementation of the new procedure. These representations have been examined and the following instructions for guidance.
Cir. No. 32/32/94-CX I am directed to refer to Board’s instructions contained in F.No. 289/10/91-CX.9 dated 18.3.91 under which powers have been delegated to the Principal Collectors of Central Excise to grant, in individual cases, the facility of payment of Central Excise dues in upto 12 installments on merits.
I am directed to refer to Boards letter F.No. 208/61/92-CX.6, dated 04/041996, whereby the Boards Circular No. 15/90-CX. 6, dated 09/08/1990 was modified so as to enhance the monetary limit for launching prosecution from Rs. 1 lakh To Rs. 5 lakhs.
Circular No. 30/30/94-CX Instructions contained in the aforesaid letter envisage that before launching any prosecution, it is necessary that the department should have evidence to prove that the person, company or individual had guilty knowledge of the offence or had fraudulent intention to commit the offence or in any manner possessed mens-rea (mental element) which would indicate his guilt
Cir. No. 29/29/94-CX I am directed to invite your attention to the provisions of Rules 52A and 173C of Central Excise Rules, 1944, as introduced by Notification No. 4/94-CE(NT) dated 1.3.94. These provisions come into force w.e.f. 1st April, 1994.
Cir. No. 28/28/94-CX In continuation of this Department”s letter of even number dated 21.07.93 it is informed that vide sub-clause (a) of clause 63 of the Finance Bill, 1994, section 3(3) of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 has been imposed to be amended so as to explicitly provide that the provisions of the Central Excise Act and Rules made thereunder relating to Offences and Penalties shall be applicable in respect of this Act also.
Cir.No. 25/25/94-CX It has been brought to the Board”s notice that there is no uniformity in the crediting of the collected on account of sale of rejects and 25% of production into Domestic Tariff Area by the EPZ/100% EOUs. This has been examined and it is clarified that such duty is charged under section 3 of the Central Excise & Salt Act and therefore it should be credited under the sub-head “0038 – Union Excise Duties”.
It has been observed that in some cases, difficulty was being experienced to execute judgements delivered by various Courts in favour of the Department as banks are not prepared to honour their guarantees and pay up in terms of bank guarantees unless certified copies of the Court”s judgements are made available to them
Circular No. 24/24/94-CX Representations have been received that benefit of Notification No. 202/88- CE has been denied to the product commercially known as bright bars. In Rajkot Collectorate a view has been taken that bright bars are covered under the expression “Other bars and rods” referred at note I (m) of Chapter note to Chapter 72 and are not entitled for exemption under Notification No. 202/88-CE
