E India CA

Professional Updates for Chartered Accountants

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Excise duty exemption for PoS devices

In what is seen as yet another big push of the Modi-led government towards digital economy, the Centre has provided excise duty exemption on Point-of-Sale (PoS) devices manufactured in the country. This excise duty exemption has also been extended to all goods for manufacture of POS. However, the excise duty exemption in both cases ...

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Excise mop up from Mumbai soars 36% to Rs 15,729 crore in Q1

Central excise collection from the Mumbai Zone jumped 36 per cent to Rs 15,729 crore in the first quarter of 2016-17 from Rs 11,551 crore a year ago, a senior official said today. "Both the zones put together (Mumbai is divided into two Central Excise zones) have collected taxes amounting to Rs 15,729 crore during the first quarter o...

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High Courts allowed withdrawal of 250 cases: CBEC

The Central Board of Excise and Customs (CBEC) on Monday said that high courts have allowed withdrawal of 250 cases of disputes related to indirect taxes, while another 202 cases would soon be withdrawn from Customs, Excise and Service Tax Appellate Tribunal. This is after CBEC has taken several measures to manage litigation and redu...

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Govt to jewellers: Clear excise dues with June duty

The government on Saturday extended the time limit for jewellery establishments to register with the central excise department, while simultaneously asking them to settle the excise dues for the March-May period along with that of June, 2016 by July1, 2016. “The central government has extended the time limit for taking central exc...

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CBEC says 1% excise duty applies to manufacture of all jewellery items

The one per cent Central excise duty on manufacture of jewellery would apply to not only new articles but also those that are made by exchanging or melting old jewellery, the Central Board of Excise and Customs (CBEC) on Tuesday said. “The tax is on the manufacture. So it would apply on any kind of manufacturing of jewellery, irre...

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Centre mulls hiking excise duty rate too to 14%

The Centre is considering a proposal to increase the average rate of central excise duty from the current 12.5 per cent to about 14 per cent, in line with the prevailing service tax rates. The proposal, which is still at a nascent stage, is being discussed as the Centre works on rolling out the goods and services tax (GST) regime. ...

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Kharge slams hike in excise duty on petroleum products

The former Union Minister and Leader of the Congress in the Lok Sabha M. Mallikarjun Kharge has criticised the National Democratic Alliance government for not transferring the benefit of the steep fall in crude oil prices to consumers and increasing the excise duty on petroleum products. He told presspersons on Sunday that if the co...

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HC summons Hry excise chief over liquor vends

The Punjab and Haryana high court on Monday summoned the excise and taxation commissioners (ETCs) of Haryana and Punjab over their failure to stop liquor vends along the national highways in both the states. Both the officers have been asked to appear in person before the HC on December 21, to explain why liquor vends continue to ...