exemption

Excise duty exemptions will be phased out gradually in GST regime

Corporate Law - India may move to a dual Goods and Services Tax (GST) regime next year, but the Cenvat (excise duty) related exemptions, especially area-based ones, will not be withdrawn at one go for ushering in the new tax system. The Finance Ministry is not in favour of doing away with all the Central excise exemptions, numbering about 330, as part of...

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Drunken Exemption to Alcoholic Beverages

Corporate Law - Entry 84 of the Union List of the Schedule VII read with clause 1 of Article 246 of the Constitution of India empowers Central Government with exclusive power to make laws in respect of Duties of excise on goods manufactured or produced in India except alcoholic liquors for human consumption, opium, Indian hemp and other narcotic drugs an...

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Excise Duty exemption not available to SSI for goods carrying brands of other companies

Corporate Law - The Supreme Court has dismissed the appeal of Unison Electronics (P) Ltd against the ruling of the Customs, Excise & Service Tribunal (CESTAT) that denied excise duty exemption for goods which carried brand names of other companies. Under a central government notification, small scale industries were provided exemption in excise duty, but...

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Haryana to exempt SEZ developers from local taxes

Corporate Law - In a big relief for the Special Economic Zone (SEZ) developers in the state, the Haryana government today said it would exempt them from local taxes and cess, as given to SEZ units. "We will extend exemption (from taxes, duty) to SEZ developers als...

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No Cenvat for manufacturers of bottled beverages on excise-duty exempted broken bottles

Corporate Law - The manufacturers of bottled beverages will no more be able to retain the Cenvat credit or the tax set-off paid on inputs, claimed on broken bottles if they have already claimed the excise duty exemption on them. After finding some instances of this sort, the Central Board of Excise and Customs (CBEC) has formally nullified its 1975 inst...

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Center will re-look notification restricting excise duty exemption of industrial units in North-East region

Corporate Law - There’s some good news for the industry of North-East as the union commerce ministry has agreed to have a relook into its March 2008 notification which had considerably restricted excise duty exemption of industrial units in the region. It is learnt that union commerce minister Kamal Nath had recently “assured” the Assam chief minis...

Read More

SEZ developers and units allowed exemption from service tax

Corporate Law - It’s a move that is bound to raise the hackles of the special economic zones (SEZ) lobby. On Tuesday, the Finance Ministry came out with a new notification on the levy of service tax for SEZ developers and units. As per the new norms, SEZ developers and units will get an exemption on service tax. […]...

Read More

Exemptions for Chartered Accountants in Examinations Conducted by Insurance Institute of India : ICAI

Corporate Law - This is to inform the members that Insurance Institute of India has decided to grant exemptions in the Licentiate, Associateship and Fellowship papers of its course curriculum to the members of our Institute in general and DIRM qualified members in particular. The exemption has been granted to the members of our Institute from the followi...

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Central excise notification exempting certain specified goods

Notification No. 01/2010-Central Excise - (06/02/2010) - Notification No. 01/2010-Central Excise, Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), other than goods specified in Annex...

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Clarification regarding peripheral activities for Area Based Exemption notifications

Circular No. 908/28/2009-CX - (23/12/2009) - Circular No. 908/28/2009-CX, New Delhi dated the December 23, 2009. Subject: Clarification regarding peripheral activities for Area Based Exemption notification Nos. 49 & 50/2003-CE, both dated 10.06.2003 as amended by notification No. 01/2008-CE dated 18.01.2008....

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Recent Posts in "exemption"

Haryana to exempt SEZ developers from local taxes

In a big relief for the Special Economic Zone (SEZ) developers in the state, the Haryana government today said it would exempt them from local taxes and cess, as given to SEZ units. "We will extend exemption (from taxes, duty) to SEZ developers als...

Read More
Posted Under: Excise Duty |

No Cenvat for manufacturers of bottled beverages on excise-duty exempted broken bottles

The manufacturers of bottled beverages will no more be able to retain the Cenvat credit or the tax set-off paid on inputs, claimed on broken bottles if they have already claimed the excise duty exemption on them. After finding some instances of this sort, the Central Board of Excise and Customs (CBEC) has formally nullified its 1975 inst...

Read More
Posted Under: Excise Duty |

Central excise notification exempting certain specified goods

Notification No. 01/2010-Central Excise (06/02/2010)

Notification No. 01/2010-Central Excise, Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), other than goods specified in Annexure appended hereto, and cleared from a...

Read More

Excise duty exemptions will be phased out gradually in GST regime

India may move to a dual Goods and Services Tax (GST) regime next year, but the Cenvat (excise duty) related exemptions, especially area-based ones, will not be withdrawn at one go for ushering in the new tax system. The Finance Ministry is not in favour of doing away with all the Central excise exemptions, numbering about 330, as part of...

Read More
Posted Under: Excise Duty |

Clarification regarding peripheral activities for Area Based Exemption notifications

Circular No. 908/28/2009-CX (23/12/2009)

Circular No. 908/28/2009-CX, New Delhi dated the December 23, 2009. Subject: Clarification regarding peripheral activities for Area Based Exemption notification Nos. 49 & 50/2003-CE, both dated 10.06.2003 as amended by notification No. 01/2008-CE dated 18.01.2008....

Read More

Drunken Exemption to Alcoholic Beverages

Entry 84 of the Union List of the Schedule VII read with clause 1 of Article 246 of the Constitution of India empowers Central Government with exclusive power to make laws in respect of Duties of excise on goods manufactured or produced in India except alcoholic liquors for human consumption, opium, Indian hemp and other narcotic drugs an...

Read More
Posted Under: Excise Duty |

Center will re-look notification restricting excise duty exemption of industrial units in North-East region

There’s some good news for the industry of North-East as the union commerce ministry has agreed to have a relook into its March 2008 notification which had considerably restricted excise duty exemption of industrial units in the region. It is learnt that union commerce minister Kamal Nath had recently “assured” the Assam chief minis...

Read More
Posted Under: Excise Duty |

SEZ developers and units allowed exemption from service tax

It’s a move that is bound to raise the hackles of the special economic zones (SEZ) lobby. On Tuesday, the Finance Ministry came out with a new notification on the levy of service tax for SEZ developers and units. As per the new norms, SEZ developers and units will get an exemption on service tax. […]...

Read More
Posted Under: Excise Duty |

Excise Duty exemption not available to SSI for goods carrying brands of other companies

The Supreme Court has dismissed the appeal of Unison Electronics (P) Ltd against the ruling of the Customs, Excise & Service Tribunal (CESTAT) that denied excise duty exemption for goods which carried brand names of other companies. Under a central government notification, small scale industries were provided exemption in excise duty, but...

Read More
Posted Under: Excise Duty |

Exemptions for Chartered Accountants in Examinations Conducted by Insurance Institute of India : ICAI

This is to inform the members that Insurance Institute of India has decided to grant exemptions in the Licentiate, Associateship and Fellowship papers of its course curriculum to the members of our Institute in general and DIRM qualified members in particular. The exemption has been granted to the members of our Institute from the followi...

Read More
Posted Under: Excise Duty |

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