Excise Articles
Disputed Input Services
DISPUTED INPUTS SERVICE CREDITS AND MANUFACTURERBy CA Madhukar N Hiregange& CA Srikantha Rao TThe concept of set off where an assessee adding value is able to set off the taxes on his purchases, is an important one which enables one to avoid the
Budget 09-10: Changes in Excise Law
CENTRAL EXCISE:Tariff:There is effort to move the overall rate towards 8% mean rate. Thus the products attracting 4% duty rate will now attract 8% duty. Such increase is there in Man Made textile, ceramic tiles, plywood and article of woods, writing
What is Excise Duty?
Q.1What is Excise Duty? Is it collected by the State Government or the Central Government? How is it different from Sales Tax?A.1Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcoti
SSI & Central Excise
CENTRAL EXCISE - SMALL SCALE INDUSTRIES By Madhukar N Hiregange (DISA, FCA)& Srikantha Rao T (B.Com, ACA) A manufacturer who manufactures excisable goods in India is liable to pay Central Excise duty on such goods. The duty is collected on clear
Job Work Under Central Excise
JOB WORK UNDER CENTRAL EXCISEBy Madhukar N Hiregange (FCA, DISA)& Srikantha Rao T (B.Com, ACA) Job work is one of the most important aspects that a manufacturer registered under Central Excise should be familiar with not just because it enables
February Rate Changes - Effect
NOTE ON DUTY RATES UNDER CENTRAL EXCISE- 24.02.2009 Madhukar N Hiregange FCA & Vinay K.V. ACA The Government has been concerned about the impact of the global financial crisis on the Indian economy and a couple of steps have been taken to deal wi
SMALL SCALE UNIT
Provisions of Small Scale Industries under Central Excise Sambhu Banerjee - FICWA Definitions: An industrial undertaking in which the investment on Fixed Assets in plant and machinery whether held on ownership or terms on lease or on hire purchas
Excise Department
FunctionsThe prime job of Excise Department is to regulate import and supply of liquor, intoxicants and narcotics (for medicinal purposes), the statutory powers for which are discharged under the Punjab Excise Act, 1914 and Medicinal and
Bonds under Central Excise
Bonds under Central ExciseThe word ‘bond’ is used quite often in excise and customs e.g. manufacture under bond, clearance under bond, export under bond etc. ‘Bond’ means an undertaking given by the assessee to Government for
Condition for Levy of Excise duty
Condition for Levy of Excise Duty 1) There must be goods.2) The goods must be excisable.3) Excisable goods must be manufactured or produced in India. Goods The Central Excise Act 1944 does not define goo
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