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EXCISE DUTY LIABILITY
Direct vs indirect taxes: Key differences and how they impact taxpayers and prices in IndiaIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 9...- Good news for India Inc as GST Council may consider raising input tax creditDraft law says cos can get credit of up to 40% of tax liability against excise duty paid on stocks, council will consider raising input tax...
- Roll out of GST to bring down prices: GovernmentThe Central Board of Excise and Customs has given out a details of the existing tax incidence and under GST to demonstrate reduction in tax...
- Budget 2017: Local Manufacturing will see changes in their customs & excise duty structureImporters won’t have separate conditions for getting their goods from courier or postal terminals at the ports.
- Last date for registering jewellers with excise department extended to June 30Modi government has also not reduced the import duty on gold so that current account deficit remains under control.
- Government extends time limit for taking central excise registration of an establishment by a jewellerThe government has extended the time limit for taking central excise registration of an establishment by a jeweller up to July 1.
- Government clarifies stand on jewellery excise, levy only on principal jewellery makersThe Budget had imposed a 1% excise duty without input tax credit and 12.5% with input tax credit on articles of jewellery.
- Jewellers to go on 3-day protest over government's excise duty moveMr. G V Sreedhar GJF Chairman, said “We are compelled to take the decision of going for three days All India ‘Bandh’".
- Ramdev's firms evaded excise duty worth over Rs 20 croreCentral Excise sleuths raided the firms of yoga guru Ramdev and claimed to have detected evasion of excise duty of over Rs 20 crore.
- Fin Min effects excise duty recovery of Rs 750 crore from CILThe alleged excise duty evasion was estimated to be about Rs 750 crore for the past two years, the sources said.
- Budget 2013: Cut excise duty on inputs to 6%, says OPPIThe OPPI has pitched in for the rationalisation of central excise duty rate of inputs (Active Pharmaceutical Ingredients or API) from 12% t...
- Budget 2011: OPPI demands rationalisation of excise duty rates of APIThe higher rate of duty paid on inputs has led to accumulation of Cenvat Credit in the books as the complete amount of duty paid on inputs ...
- Cos to pay interest on incorrect Cenvat creditCompanies will have to bear interest on any cenvat credit wrongly taken even if it is not utilised, according to the Central Board of Excis...
- SC issues notice to RIL in duty evasion caseThe Supreme Court has issued notice to Mukesh Ambani group firm Reliance Industries Ltd for alleged customs duty evasion of around Rs 11.61...
- Will duty changes cause problems?The tax proposals in Budget 2008-09 are full of relief and concessions. Individual income-taxpayers are simply awed by the munificence of P...
- FM may need to go the whole hog to spur demandWay back in the mid-nineties, finance minister P Chidambaram had an option to introduce a single rate of excise duty for all goods.
- Excise to check evasion in VAT :FMThe excise department could take the help of state governments’ data bank on value-added tax (VAT) collections besides carrying out “high-i...
- FM refuses to bend on FBTThe fringe benefit tax (FBT) on employee stock options (Esops) is here to stay, but in a modified version.
- FM tells corporates to pay excise dutyFinance Minister P Chidambaram on Wednesday expressed concern about the "sizable" evasion of excise duties and asked corporates to pay thei...
- Service providers hit by 4% CVD on importsThe Budget 2007-08 has kept the countervailing duty (CVD) on imports in lieu of state Vat not Cenvatable against service tax liability.
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