Excise duty rates on Petrol and Diesel ( both unbranded and branded ) reduced

  [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) Notification No. 22/2017-Central Excise New Delhi, the 3 rd October, 2017 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 makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 11/2017-Central Excise, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 793(E), dated the 30th June, 2017, namely:- In

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Seeks to exempt excise duty on goods manufactured on or before 30th june 2017 but not cleared from the factory of production before 1st july 2017

  [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) Notification No. 12/2017-Central Excise New Delhi, the 30th June, 2017 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 exempts all excisable goods [except petroleum crude, high speed diesel, motor spirit(commonly known as petrol), natural gas, aviation turbine fuel, tobacco and tobacco products] from the whole of the duty of excise leviable thereon under the said Central Excise Act subject to the following conditions:- (a) The goods should have been manufactured on or

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Revised Excise Duty ratio for pan masala & pan masala containing tobacco

  Seeks to amend Notification No. 30/2008-Central Excise dated 1.7.2008. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 2/2017-Central Excise (N.T.) New Delhi, the 2nd February, 2017 G.S.R. (E). – In exercise of the powers conferred by sub-sections (2) and (3) of section 3A of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Pan Masala Packing Machines (Capacity Determination And Collection of Duty) Rules, 2008, namely :- 1. (1) These rules may be called the Pan Masala Packing Machines (Capacity Determination And Collection of Duty) Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Pan Masala Packing Machines (Capacity Determination And Collection of

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Effective rate of excise duty of 12.5% on Motor Vehicles

  Seeks to further amend Notification No. 12/2012-Central Excise dated 17.03.2012 to prescribe an effective rate of excise duty of 12.5% on Motor Vehicles falling under heading 8702 90 21, 8702 90 22, 8702 90 28 and 8702 90 29 of the First Schedule of the Central Exicse Tariff Act, 1985. [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) Notification No. 02/2017-Central Excise New Delhi, the 11th January, 2017 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, being satisfied that it is necessary in the public interest so to do, hereby makes the following further

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Excise duty exemption on branded gold coins of purity 99.5% and above amended

  [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) Notification No. 36/2016 – Central Excise New Delhi, the 1st December, 2016 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, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 163 (E), dated the 17th March, 2012,

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Seeks to exempt Point of Sale (POS) devices and goods required for its manufacature from central excise duty till 31st March, 2017

  [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) Notification No. 35/2016 – Central Excise New Delhi, the 28th November, 2016 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 being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.163(E), dated the 17th March, 2012, namely: –

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Refund of Terminal Excise Duty(TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available

  Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Date : 22nd Sep 2016 Trade Notice No 17/2016 To All Regional Authorities Members of Trade Sub: Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available. Sir, The Para 7.03 (c) of FTP 2015-20 provides for refund of Terminal Excise Duty if exemption is not available. The Para 7.05 (ii) of FTP 2015-20states that supply of goods which are exempted ab-initio from payment of Terminal Excise Duty would be ineligible to get refund of TED. 2. The Policy Circular No. 16 (RE-2012/2009-14) dated 15.3.2013 also while specifying the categories where ab-initio exemption is there, specified

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Clarification on Revenue recognition and Excise Duty Restrictions

  Bombay Stock Exchange DCS/COMP/10/2016-17 September 20, 2016 Dear Sir/Madam, Sub: Clarification by SEBI regarding Revenue recognition and Excise Duty Restrictions. SEBI had issued a circular dated November 30, 2015, wherein, it was prescribed that ‘revenue from operations’ may be disclosed net of excise duty. Subsequently, as per Schedule III of the Companies Act, 2013, which was notified on April 6, 2016, revenue from sale of products should be disclosed inclusive of excise duty. SEBI issued a circular dated July 5, 2016, wherein as per clause 2.9 it was clarified that in case of any technical difficulty in the interpretation of any specific item in the formats or implementation of this circular while publishing the financial results, the listed entities shall be guided by the relevant provisions of the Ind-AS Rules / AS Rules and

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Clarification likely on Central’s power to levy excise duty

  The revenue department is likely to issue clarification on legality of levying excise duty by the Centre on various commodities till implementation of goods and services tax (GST) from April 1, 2017. The clarification is expected to address the doubt being raised by certain experts about the legality of levying excise duty during the interim period before the GST rollout. The other view is that the Centre has widespread power under Entry 97 of the Union List to levy taxes on any products. The confusion arose following the notification of certain clauses in the GST Constitutional Amendment with effect from September 16. As per the notification, Entry 84 of the Union List has been amended to include only petroleum crude, high-speed diesel, petrol and natural gas. It would mean

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Supply of goods manufactured by EOUs without Excise Duty payment against Advance Licence/Authorisation

  F. No. 268/01/2016-CX.8 Government of India Ministry of Finance Department of Revenue) (Central Board of Excise & Customs) Circular No. 1046/34/2016-CX New Delhi, the 16th September, 2016 To The Chief Commissioners of Customs Central Excise & Service Tax (All); The Chief Commissioners of Customs (All); The Director Generals/Directors of Customs, Central Excise & Service Tax (All); Webmaster, CBEC. Subject: Supply of goods manufactured by EOUs without payment of Central Excise Duty against Advance Licence/Authorisation- reg. Madam/Sir, Representations have been received from trade and field formations regarding applicability of second proviso to para 6 of notification no. 22/2003-CE dated 31.03.2003 as amended, when goods manufactured by EOU are supplied to Advance Licence /Authorisation holder in DTA. The said proviso seeks to deny the exemption from central excise duty on inputs, in cases where goods

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