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Highlights
TOPICS COVERD
TAXATION IN INDIA
VALUATION
ASSESMENT
Highlights
TAXATION IN INDIA
BASICS
1.Taxes 2.Leavy 3.Impact & Incidence
DIRECT TAX
Income Tax, Wealth Tax On Income & Wealth On same Person
INDIRECT TAX
CE, Customs, ST, VAT, Octroi On Goods Impact on One person(Seller), Incidence on another Person (Consumer) Allowed CBEC CG [Vat SG]
NA CBDT CG
Highlights
BACK GROUND OF CENTRAL EXCISE
Constitution of India
Article 246(1) Gives power to CG to make laws in respect of matters given in LIST-I [Union List Entry No.84]
Article 246(3) Gives power to SG to make laws in respect of matters given in LISTII[State List] Union List Entry No.84 Empowers CG to levy excise duty on Tobacco & other goods manufactured in India Except Alcoholic liquors for human consumption, opium, narcotics But include medical & Toilet preparation containing above.
Highlights
STRUCTURE OF CENTRAL EXCISE LAW
Central Excise Act, 1944
Basic Act for providing for charging of duty, valuation, powers of officers, penal provisions etc.
This classification forms basis for prescribing duty to be charged on that particular product;
Circulars etc.
Circulars (issued by CBEC), trade notices (issued by Commissioner of CE) and notifications (issued by CG); Decisions laid out by the judiciary: Commissioner (appeals) CESTAT (Appellate tribunal) High court Supreme
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CHARGING SECTION- BASICS -OVERVIEW
CE Act applies to whole of India Land & Sea [up to 200 Nautical Miles] Type of ED Basic Excise Duty, Additional Excise Duty & Special Duty ED is levied on
Highlights
REGISTERATION
Persons Require to register:
For the administration of Central Excise Act & rule following persons need to register:
Every Manufacturers of excisable goods First and Second Stage dealer desiring to issue cenvatable invoice Other specified persons as per rule 9
Whole Sale Traders or Dealers of excisable goods [Except First Stage Dealer / Second Stage Dealer/ Depot]
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