TMI BlogChanges Made in Central ExciseX X X X Extracts X X X X X X X X Extracts X X X X ..... Changes Made in Central Excise - Commentaries / Editorials Dated:- 1-3-2008 - News - Sr.No. Changes Effective Date 1 Peak rate of excise duty has been reduced from 16% to 14% vide notification no. 2/2008 CE dated 1-3-2008 (With certain exception) Strangely the peak rate has been reduced by way of notification and by amending the Tariff through Bill. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1-3-2008 2 For certain products duty of excise has either reduced or exempted fully. In certain cases, excise duty has been increased Excise duty of packaged software increased from 8% to 12% Areas based exemption (Uttrakhand and HP) has been extended to manufacturing of printers and monitots 1-3-2008 3 Duty of Excise payable by EOU on DTA clearance has been enhanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed from 25% to 50% of duty of customs as per formula 1-3-2008 4 Benefit under SSI exemption scheme is being extended to strips of plastics intended for weaving of fabrics/sacks. 1-4-2008 5 Exemption for goods supplied to United Nations or an international organization under notification no. 108/95 has been restricted to actual use - temporary consumption shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l not be eligible for exemption 1-3-2008 6 Rate of abatement - in case of MRP products - has been reduced 1-3-2008 7 Scope of Deemed Manufacturer has been enlarged: Old "packing or repacking of such goods in a unit container and relabeling of containers" New "packing or repacking of such goods in a unit container or relabeling of containers" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1-3-2008 8 Tariff value for retail packages of pan masala falling under 2106 90 20 with betel nut content not exceeding 15%, on which MRP is mentioned, has been increased 1-3-2008 9 Central Excise (Determination of Retail Sale Price of Excisable Goods) Rules, 2008, have been issued so as to prescribe the manner of determination of the RSP, in cases where a manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urer removes goods without declaring the RSP or alters, tampers or obliterates the same after removal from the place of manufacture. 1-3-2008 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
