What is the title of Schedule No 4?
Petroleum oils and oils obtained from bituminous minerals, crude.
What are the objectives of Central excise Act?
The Central Excise Act, 1944 was created to ensure that laws concerning the Central Duties of Excise on any goods or products manufactured within the length and breadth of India, could be consolidated as well as amended by the Central Government.
What are excisable goods?
The term ‘excisable goods’ means the goods which are specified in the first schedule and the second schedule to the Central Excise Tariff Act, 1985, as being subject to a duty of excise and includes salt. Liability to pay excise duty.
What is the scope for central excise law in India?
Allocation of sources between centre and states under the constitution of India grants to the Central Government power to impose “Duties of excise on tobacco and other goods manufactured or produced in India, except alcoholic liquors for human consumption, opium, narcotics, but including medical and toilet preparations …
What is 4th Schedule of Indian Constitution?
Fourth Schedule of Indian Constitution. According to Article 80(2), the allocation of seats in the Council of States to be filled by representatives of the States and of the Union territories shall be in accordance with the provisions in that behalf contained in the Fourth Schedule.
What is meaning of Central Excise?
Central excise duties are levied by the Union Government on commodities manufactured or produced within the country and consumed within the country, as against the State excise duties which are levied on alcoholic drinks, opium, etc.
What are the categories of Central Excise duty?
At the Central Level: Service Tax. Additional Excise Duty. Special Additional Duty of Customs. Additional Customs Duty commonly known as Countervailing Duty.
What is non excisable goods?
11 July 2012 non excisable goods are those, which are not shown in CENTRAL EXCISE TARRIF ACT. exempted goods are those, which are shown in CENTRAL EXCISE TARRIF ACT, but duty liability is exemted by any of the notifications issued by the central gazzete of india.
What are the powers of Central Excise officers?
(1) Any Central Excise Officer duly empowered by the Central Government in this behalf, shall have power to summon any person whose attendance he considers necessary either to give evidence or to produce a document or any other thing in any inquiry which such officer is making for any of the purposes of this Act.
Who can amend 4th schedule?
However, as per sub-section (2) of section 11A of the Arbitration and Conciliation Act, 1996, a notification to amend the Fourth Schedule to the said Act has to be laid in draft before each House of Parliament before the same is being published in the Gazette.
Who can amend fourth schedule?
Section 11A: Power of Central Government to amend Fourth Schedule.
What are the 12 schedules?
12 Schedules of Indian Constitution PDF:
|Third Schedule||75, 84, 99, 124, 146, 173, 188 & 219|
|Fourth Schedule||4 & 80|
|Sixth Schedule||244 & 275|
What is Second Schedule?
Second Schedule means Loan Term Sheet which contains the sanctioned terms and conditions of the Loan, in addition to the other terms and conditions covered in the Agreement.
Who pays Central Excise duty?
Central excise duty is an indirect tax, i.e. each person, rich or poor, is liable to pay tax indirectly on purchase of goods which have already been charged to duty. This tax is administered under the authority of Entry 84 of Union List of the Seventh Schedule read with Article 226 of the Constitution of India.
What is the taxable event in Central Excise?
The taxable event under the Central Excise law is ‘manufacture’ and the liability of Central Excise duty arises as soon as the goods are manufactured.
What are the two types of excise tax?
Specific Tax – refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement. Ad Valorem Tax – refers to the excise tax which is based on selling price or other specified value of the goods/articles.