Clause 74 - Insertion of new Section 3A – Central Excise Act - Power of Central Government to charge excise duty on the basis of capacity of production in respect of notified goods.
Finance Bill, 2008 Chapter IV INDIRECT TAXES
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Capacity based excise duty: government may levy duty on deemed production capacity with rules for assessment and abatement. Central Government may notify goods as notified goods and levy excise duty on the basis of assessed annual production capacity rather than actual output. ... Summary
Capacity based excise duty: government may levy duty on deemed production capacity with rules for assessment and abatement.
Central Government may notify goods as notified goods and levy excise duty on the basis of assessed annual production capacity rather than actual output. Rules may require determination by an officer not below Assistant Commissioner or by reference to a specified production factor with deemed quantities, and provide proportionate adjustments for part year operation or alteration of factors. Duty rates and collection manner are notified, an abatement applies for prescribed idle periods, and goods of hundred per cent export oriented undertakings moved within India are excluded.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
