Effective date for levy of excise duty on cigarettes at the enhanced rates vide Finance Act, 2012 – Clarification

Effective date for levy of excise duty on cigarettes at the enhanced rates vide Finance Act, 2012 – Clarification – Regarding. https://www.taxtmi.com/circulars?id=52692 The circular clarifies that while a provisional declaration under the Provisional Collection of Taxes Act gave the Finance Bill rates force of law from the date the Bill was introduced, official amendments converting the ad valorem component into higher specific excise rates became operative only upon assent and enactment; therefore the amended tariff rates for cigarettes apply from the date the Finance Act came into force and not from the provisional declaration date. en-us Tue, 11 Feb 2014 00:00:00 +0530 Wed, 12 Feb 2014 13:11:00 +0530 TaxTMI RSS Generator Effective date for levy of excise duty on cigarettes at the enhanced rates vide Finance Act, 2012 – Clarification – Regarding. https://www.taxtmi.com/circulars?id=52692 The circular clarifies that while a provisional declaration under the Provisional Collection of Taxes Act gave the Finance Bill rates force of law from the date the Bill was introduced, official amendments converting the ad valorem component into higher specific excise rates became operative only upon assent and enactment; therefore the amended tariff rates for cigarettes apply from the date the Finance Act came into force and not from the provisional declaration date. Circulars Central Excise Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52692