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section 3,4,5, Central Excise

Issue Id: - 109598
Dated: 23-12-2015
By:- rohit varshney

section 3,4,5


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give me some idea about central excise section 3,4 ,5

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Showing Replies 1 to 6 of 6 Records

Page: 1


1 Dated: 23-12-2015
By:- Ganeshan Kalyani

It is regarding collection and levy of duty.


2 Dated: 23-12-2015
By:- rohit varshney

thanks


3 Dated: 23-12-2015
By:- Rajagopalan Ranganathan

Sir,

Section 3 of Central Excise Act, 1944 prescribes that payment of cenvat duty on excisable goods manufactured in India as per the rate specified in the first schedule of Central Excise Tariff Act, 1985.

Section 4 lays down principles of valuation of excisable goods which are leviable at ad valorem duty. That is transaction value. It also lays down how to determine value of excisable goods for payment of duty if transaction is among related persons, associated companies, inter-connected companies etc.

Section 5 stipulates how remission of excise duty is to be given if the excisable goods are lost due various reasons.


4 Dated: 23-12-2015
By:- KASTURI SETHI

Section 3 Levy and collection of Central Excise duty.

Section 4 Valuation of excisable goods (Transaction Value)

Section 4 A Valuation of excisable goods with reference to Retail Sale Price.

Section 5 Remission of duty on goods found deficient in quantity

Section 5 A Power to grant exemption from duty.


5 Dated: 23-12-2015
By:- YAGAY AND SUN

Dear Rohit,

Now you have some idea on Section 3, 4, and 5 therefore, you may also dig deeper to understand the same by exploring related judgments, verdicts, discussions, laws, Rules, regulations etc for enriching your knowledge in this field.

Regards,

YAGAY and SUN

(Management, Business and Indirect Tax Consultants)


6 Dated: 24-12-2015
By:- Ganeshan Kalyani
Visit CBEC website. There is sea of knowledge.

Page: 1

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