objectives of central excise duty
Sitamarhi While as ordinary citizens paying taxes, we may wonder about the need of celebrating a day dedicated to taxation, the collection of duties through the imposition of Central Excise have played a pivotal role in adding to the tax revenue of our nation. Each removal will be treated as a separate transaction and “value” for each removal will be separately fixed. Goods have to be cleared from factory under an Invoice. Deputy / Assistant Commissioner of Central Excise: Each Commissionerate of Central Excise is divided into divisions and each division is under the administrative control of Deputy / Assistant Commissioner of Central Excise. padding: 14px; Zirakpur, jQuery('.wpcf7-form').removeAttr('novalidate'); Karaikal Kakinada font-weight: 600; sonla 5,000/; matters related to export under bond or under claim of rebate; loss of goods during transit to warehouse without upper monetary limit, Cenvat credit / duty above Rs. Akola the manufacturer can opt to pay duty as per normal rules and procedure also. Excise duty is one of the intricate subjects in the domain of indirect taxation. Nagercoil Specific duty, based on some measure like weight, volume, length, etc. It is imposed by Excise Authority as per the provisions of the Central Excise Rules. font-family: "Montserrat", sans-serif; Frequency of CERA Audits is as per the importance they attach and availability of time to CERA audit parties. Agra Units who turnover crosses Rs. Audit of Cenvat credit availed or utilized by a manufacturer can be ordered by if Commissioner has “reason to believe” that Cenvat credit availed is not normal or the credit has been availed on account of fraud, willful misstatement, suppression of facts or collusion. Virudhunagar Lalitpur Duty is payable even if duty was paid on raw materials. The LUT once given is valid for 12 calendar months. Rupnagar Invoice shall contain, Mode of transport and vehicle registration number, Other details like name and address of assessee and consignee. A manufacturer has to keep multiple records under the old regime, for filing Central Excise, VAT, Sales Tax returns etc. div.wpcf7-mail-sent-ok { Invoice shall be in triplicate and should be marked as follows. As per ER-1 form of monthly/ quarterly return, number of invoices on which duty is paid under protest should be indicated in the return. Distinction between Cenvat on Inputs and Capital Goods, All inputs (except HSD, LDO and petrol) are eligible, Inputs are required to be used “in or in relation to manufacture”, Capital goods should be “used in factory”. Tirunelveli Darbhanga Gannavaram float: left; Sometimes it happens that the classification of goods, Assessable value determined by excise authorities in adjudication proceedings, etc. Price parity by unifying the tax rates all over the country. Other Cities Duty is payable even when not collected from consumers. Obtain dated acknowledgement which will be proof that assessee has paid duty under protest from that date . fd.append('leadgen_service[lead_form_category]', leadgen_lead_form_id); fd.append('_wpcf7_version', _wpcf7_version); Chhindwara Haridwar - it involves imposition of fine and imprisonment. Cachar Bhopal Ongole may, by notification, specify the goods in respect of which an assessee shall have the option to pay Excise duty on the basis of specified factors relevant to the production of such goods and at specified rates. Jhansi Nalanda 2017] Excise Duty No. Convert your Sole Proprietorship into an LLP Roorkee // populate_cities(jQuery('#leadgen_service_service_id').val()); It helps to establish a good record with the IT department. The payment should be “by reason of, or in connection with the sale.” These terms have always been construed strictly in judicial interpretation. 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