On Tuesday, Centre hiked excise duties on petrol by Rs 10 per litre and on diesel by Rs 13 per litre. Acts; Rules; Tariff 2017-18; Central Excise Manual (24.3MB) Forms; Notifications; Case Law-ECS; Circulars/Instructions; Section 37B Order; Nominated Banks for payment of duty; E-payment; Area Based exemption; Service Tax. Central GST has replaced excise duty as excise is charged by the Central Government and it also collects the revenue from Central GST. Basic Excise Duty- Sometimes referred to as Central Value Added Tax (CENVAT), this type of excise duty is imposed on goods classified under the first schedule of the Central Excise Tariff Act, 1985. The Central Excise tax charges for tobacco is described below according to Indian Union Budget 2017-18. Acts; Rules; Tariff 2017-18; Central Excise Manual (24.3MB) Forms; Notifications; Case Law-ECS; Circulars/Instructions; Section 37B Order; Nominated Banks for payment of duty; E-payment; Area … excise duty: 1. This duty is imposed under Section 3(1) (a) of the Central Excise Act, 1944 and levied on all excisable goods in the country except salt. Excise duty raised on petrol and diesel: What it means for you 06 May, 2020, 05.14 PM IST. Customs Duty Calculator (new) Compliance Information Portal (CIP) Authorized Banks for e-payment through ICEGATE; Intellectual Property Rights(IPR) FAQ on warehousing; Central Excise. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called “State Excise” duty. A percentage levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products). Central Excise duty is an indirect tax levied on those goods which are manufactured in India and are meant for home consumption. It is a tax on manufacturing, which is paid by a manufacturer, who passes its incidence on to the customers. The taxable event is 'manufacture' and the liability of central excise duty arises as soon as the goods are manufactured. For most of the states, excise duty is the second largest tax revenue after sales taxes (state VAT). Changes or customs rates as per Budget 2017-18 under this HSN Code list: 1) The additional duty of excise levied under the Seventh Schedule to the Finance Act, 2005 [commonly known as health cess] on non-filter and filter cigarettes of sub-heading 2402 20 is being increased. Central Excise. Penalty for not Paying Excise Duty In case you fail to pay excise duty or commit an offence related to any excisable product, the duty chargeable thereon exceeds Rs.50 lakh and the defaulter may face imprisonment for a term that may extend up to 7 years.