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List of 130 Items On Which 1% Excise Duty Imposed

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 1st March, 2011 NOTIFICATION No. 1/2011-Central Excise G.S.R. (E).- 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 .....

Don’t Forget to Claim Your Refund under Excise

There are several areas in the provisions of taxation that has often been suppressed and kept way from the spotlight and one of such area is the area of claiming of refund under excise. This subject matter is an attempt to remind producers claim there refund. To prevent unjust enrichment of the manufacturers through refunds, the former Finance Minister Dr. Man Mohan Singh had introduced a bill in the Parliament on 12th August 1991, called .....

Payment of Excise Duty – Provisions

Excise duty shall be paid as follows: (a) Duty is payable on monthly basis. Excise duty for a month (other than March) is payable by 5th of the following month. (b) Excise duty for the month of March is payable by 31st March. (c) In case of e-payment, excise duty is paid by 6th of the following month. (d) EOU units have to pay excise duty every time before clearance of goods. (e) SSI units .....

Registration Under Central Excise Act

Registration As per section 6 of the Central Excise Act, prescribed person who is engaged in – (a) The production or manufacturer of any specified goods included in the First Schedule and the Second Schedule to the Central Excise Tariff Act, (b) The wholesale purchase or sale (whether on its own account or broker or commission agent) or the storage of any specified goods included in the First Schedule and the Second Schedule to the .....

An Overview of Central Excise Duty

Excise duty is an indirect tax and levied on all excisable goods which are produced or manufactured in India. But power to impose excise duty on certain goods like alcoholic liquors, opium and narcotics is granted to State and such excise is called state excise. The Act, Rules and rates for State excise are different from each State. The Central Excise is levied uniformly all over India in accordance with the provisions of Central Excise .....

Concept on CENVAT Cerdit

In the production process output of a manufacturer may become the input of another manufacturer. Thus, when tax is based on selling price of a product, burden of tax will go on increasing as tax on subsequent stages are levied on tax on earlier stages. This is known as cascading effect. For example, let us assume that the tax rate of a product is 10 % of the selling price. Manufacturer X sells goods to .....

Changed Due Date for Deposit of Excise Duty

Government of India Ministry of Finance (Department of Revenue) New Delhi, the 27th February, 2010 Notification No.5/2010-Central Excise (N.T.) G.S.R. (E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise Rules, 2002, namely:- 1. (1) These rules may be called the Central Excise (Amendment) Rules, 2010. (2) They shall come .....

Excise duty | Dummie Guide of Excise Duty

Q.1 What is Excise Duty? Is it collected by the State Government or the Central Government? How is it different from Sales Tax?A.1. Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called “State Excise” duty. The Excise duty on rest of goods is called “Central Excise” duty and is collected in terms of Section 3 .....