Central government on being satisfied that the import duty leviable on goods falling under heading 0404 of the first schedule to the customs tariff act, 1975 51 of 1975, should be increased and that circumstances exist which render it necessary to take immediate action. Cases in respect of excisable goods set forth in the fourth schedule to the central excise act, 1944 this includes tobacco and specified petroleum products. In exercise of the powers conferred by section 3c 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 fourth schedule to the central excise act, 1944 namely. In exercise of the powers conferred by subsection 1 of section 5a of the central excise act, 1944 1 of 1944 hereinafter referred to as the excise act, the central government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the excisable. Amendments affecting rate of basic excise duty to be effective from. Cbic amends fourth schedule to the central excise act 1944 vide notification no. Central excise act 1944 complete act citation 51721 bare. The fourth schedule includes specified tobacco and tobacco products and specified petroleum products. In exercise of the powers conferred by section 3c 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 fourth schedule to the central excise act, 1944. Apr 28, 2018 28 april 2018 which are the items covered under fourth schedule of central excise act 1944 as amended, previous news. Duties specified in the the first schedule and the second schedule 4.
Amendments to the central excise act, 1944 and the central excise tariff act, 1985 definition of excisable goods to be amended to mean goods specified in the fourth schedule to the central excise tariff act, 1985 and subjected to a duty of excise. Central excise act 1944, chapterii, levy and collection of. Be it enacted by parliament in the sixtyeighth year of the republic of india as follows. Seeks to exempt sad on goods in fourth schedule to central.
Power of central government to charge excise duty on. Mar 21, 2020 levy part 1 central excise act,1944, indirect tax laws b com notes edurev is made by best teachers of b com. Seeks to exempt duties of excise on the goods falling. Import export data, export import shipment data from customs.
Dec 31, 2019 cbic amends fourth schedule to the central excise act 1944 vide notification no. Central excise act 1944 complete act citation 51721. Seeks to exempt duties of excise on the goods falling within the fourth schedule to the central excise act, 1944, in excess of amount calculated at the rate of 50%. Duty specified in the fourth schedule to be levied. In the central excise act, 1944 hereinafter referred to as the central excise. I of 1944 24thfebruary, 1944 an act to consolidate and amend the law relating to 1 duties of excise and to salt. In this chapter, unless the context otherwise requires, a assessee means any person who is liable for payment of excise duty assessed under this act or.
Section 3 duty specified in the fourth schedule to be. Central excise act, 1944 bare acts law library advocatekhoj. Central excise act 1944 complete act citation 3225 bare. Seeks to increase the basic excise duty on specified goods. The taxation laws amendment bill, 2017 a bill further to amend the customs act, 1962, the customs tariff act, 1975, the central excise act, 1944, the finance act, 2001 and the finance act, 2005 and to repeal certain enactments. Cbec exempt excise duty on goods in fourth schedule to.
Amendments to the central excise act, 1944 excise act and central. In this chapter, unless the context otherwise requires, a assessee means any person who is liable for payment of excise duty assessed under this act or any other act and includes. Where under this act, the duty of excise is chargeable on any excisable goods with reference to their value, then, on each removal of the goods. Tax paid at the time of manufacture of some goods as per the government rules. Excise act, 1944, against the amount debited in the said scrip and. The taxation laws amendment bill, 2017 the economic times. Central excise law pursuant to the introduction of the central goods and services tax bill, 2017 it is proposed to repeal the central excise tariff act, 1944. Note that the 1985 act is proposed to be repealed under the central goods and services tax bill, 2017. Central excise act 1944, chapterii, levy and collection. See section 2d and 2fii general rules for the interpretation of this schedule. Section 2d and 2f of the central excise act, 1944 read as under. Buy the central excise act, 1944 by pdf online from company secretary.
Schedule to the central excise tariff act, 1985, the words the. Schedule and the second schedule to the central excise tariff act, 1985 to be levied. In exercise of the powers conferred by subsection 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 the goods falling under the chapter, heading, subheading or tariff item of the first schedule to the central excise. Clause 12 draftbillsreports central excise taxation laws amendment bill, 2017 clause 12 insertion of fourth schedule. Valuation of excisable goods for purposes of charging of duty of excise. And for items specified in fourth schedule to central excise act 1944 specified petroleum products, tobacco etc. The fourth schedule see section 681 provisions of central excise rules, 1944 to be amended 2 amendment 3 period of effect of amendment 4 insertion of new rule 57ccc. Section 3 duty specified in the fourth schedule to be levied central excise act, 1944 notification no. In this schedule, heading, subheading and tariff item mean respectively a heading, subheading and tariff item in the first schedule to the central excise tariff act, 1985 5 of 1986. Levy part 1 central excise act,1944, indirect tax laws b. Cbec exempt excise duty on goods in fourth schedule to central. Seeks to exempt sad on goods in fourth schedule to central excise act. In section 2 of the central goods and services tax act, 2017 hereinafter referred as the central. Duties specified in schedule, the first and the second schedule to the central excise tariff act, 1985 to be levied.
Mar 21, 2020 levy part 1 central excise act, 1944, indirect tax laws b com notes edurev is made by best teachers of b com. Cbic amends fourth schedule to the central excise act, 1944. Under gst regime, drawback under section 75 shall be limited to customs duties on imported inputs and central excise duty on items specified in fourth schedule to central excise act 1944 specified petroleum products, tobacco etc. In exercise of the powers conferred by section 3c 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 fourth schedule to the central excise act. In the fourth schedule to the central excise act, 1944 finance no. In this regards, a new schedule, namely, the fourth schedule is proposed to be inserted in the central excise act, 1944 to provide for classification and duty rates for excisable goods. Whereas it is expedient to consolidate and amend the law relating to 1 duties of excise on goods manufactured or produced, and services. Jain afterscho o ol centre for social entrepreneurship sivakamu veterinary hospital road bikaner 334001 rajasthan, india.
Eximkey india dgft, customs, excise, export import policy. In the fourth schedule to the central excise act, 1944, in chapter 27, for the entry in column 4 occurring against tariff item 2709 20 00, the entry re. Duty specified in the fourth schedule to be levied shall be an amount equal to the aggregate of the duties of customs which would be leviable under the customs act, 1962 52 of 1962. Full text containing the act, central excise act, 1944, with all the sections, schedules, short title, enactment date, and footnotes. Valuation of excisable goods for purposes of charging of duty. This document is highly rated by b com students and has been viewed 148 times. Bill, 2017 abolishes cesses levied under the current regime. Section 3c power of central government to amend fourth schedule central excise act, 1944. Download the central excise act, 1944 by pdf online. Section 3c power of central government to amend fourth.
In the central excise act, after the third schedule, the schedule specified in the second schedule shall be inserted. Classification of goods in this schedule shall be governed by the following. In the central excise rules, 1944, after rule 57cc, the following rule shall be inserted, namely. Section3 duties specified in the first schedule and the second schedule to the central excise tariff act, 1985 to be levied. Central excise act 1944, chapterii, levy and collection of duty, valuation of excisable goods, charging duty of excise, valuation of excisable goods, retail sale price, remission of duty on goods, deficient in quantity, power to grant exemption, registration of certain persons, restriction on possession of excisable goods, offences and penalties, offences by companies, powers of court. Clause 12 of the bill seeks to insert a new fourth schedule in the central excise act, 1944 so as to prescribe the central excise tariff in respect of goods which would continue to be chargeable to central excise duty even after the.
Procedures to claim drawback after gst implantation. India code, free indian bare acts, indian statutes,legislation, bills, law, indian code, indian bare acts,indias central statues,legislation,amendments,repealings. Seeks to exempt duties of excise on the goods falling within. Third schedule to central excise act 1944 see section 2fiii notes.
Whereas it is expedient to consolidate and amend the law relating to central duties of excise on goods manufactured or produced in certain parts of india. Consequent to the proposed repeal of the central excise tariff act, 1944 vide the central goods and services tax bill, 2017, a new schedule, namely, the fourth schedule is proposed to be inserted in the central excise act, 1944 to provide for classification and duty rates for excisable goods, namely, petroleum crude, motor spirit petrol, high. You need to be the querist or approved caclub expert to take part in this query. Third schedule to central excise act 1944 taxindiaupdates in. An act to consolidate and amend the law relating to central duties of excise chapter v settlement of cases section 31. Clause 12 of the bill seeks to insert a new fourth schedule in the central excise act, 1944 so as to prescribe the central excise tariff in. Duties specified in first schedule and the second schedule to the central excise tariff act, 1985 to be levied. Central board of excise and customs cbec is a part of the department of revenue under the ministry of finance, government of india. Special offer on gst package for cas as per the mou with icai. Currently, under the central excise tariff act, 1985, the central government has powers to change excise rates through notification in emergency circumstances. Bill, 2017 abolishes cesses levied under the current.