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Suggestions Invited on Draft Central Excise Bill, 2024

Suggestions Invited on Draft Central Excise Bill, 2024
Start Date :
Jun 07, 2024
Last Date :
Jun 26, 2024
18:15 PM IST (GMT +5.30 Hrs)
Submission Closed

The Central Board of Indirect Taxes and Customs (CBIC) has prepared a draft of the 'Central Excise Bill, 2024'. This new draft bill aims to replace the outdated Central Excise Act, ...

The Central Board of Indirect Taxes and Customs (CBIC) has prepared a draft of the 'Central Excise Bill, 2024'. This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law. The primary focus of the consultative process is to enact a law that factors in ease of doing business and removes redundant provisions. The draft bill comprises 12 chapters, 114 (one hundred and fourteen) sections and two schedules.

Your suggestions/comments/views are invited in the pre-legislative consultative process on the draft Bill for shaping an efficient, clear, and business-friendly law on the MyGov platform.

How to Participate:
1. Review the draft of the 'Central Excise Bill, 2024' on the CBIC website HERE.
2. Submit your suggestions/comments/views in the following format by 26th June 2024.

Sl.No. | Clause No. of the draft Bill | Title of the Clause | Proposed modification, if any | Reasons, Comments or Remarks

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Showing 546 Submission(s)
CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Excise duty is a form of indirect tax that is levied by the Central Government of India for the production, sale, or license of certain goods. Excise duty charges are also collected by state governments for alcohol and narcotics.
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Retail Sales Price: As per section 4A of the Central Excise Act, 1944, the valuation is based on the retail sales price declared on the goods. The statutory requirements for applicability of this section are- Must be excisable goods; Must be chargeable to duty on value; Sales must be in package; Must fall under the provisions of Legal Metrology Act, 2009, mandatorily; and Must be notified by the Central Government.
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Scope of Central Excise Law The Law applies to whole India including Jammu and Kashmir. The territorial waters of India are also included. The goods manufactured or produced within.- Territorial waters of India; and The areas designated in the Continental Shelf or the Exclusive Economic Zone,
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Conditions for levy of Excise Duty Goods must be there; The Central Excise Tariff Act, 1985 (CETA), must specify the goods; Manufacture of products must have taken place; The manufacture must be done in India excluding the Special Economic Zone areas.
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Excise taxes are assessed by federal and state governments on certain goods and services. They are paid by the merchants that sell them. Excise taxes can be a flat tax amount, known as a specific excise tax
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Excise and sales taxes are two different types of taxes. An excise tax is imposed on specific goods and is generally the responsibility of the merchant to pay to the government. The merchant, in turn, may or may not pass the tax on to the consumer by adding it into the price. A sales tax, on the other hand, is charged on almost everything and is collected from the consumer by the merchant who passes it on to the government. The sales tax is a percentage of the price of the good or service.
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
Sin taxes on targeted goods like beer and alcohol will often be taxed at the federal level and also taxed again by the state, making the cost of these items higher.
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CHANDA NAGARAJU
CHANDA NAGARAJU 1 year 10 months ago
In some cases, governments levy excise taxes on goods that have a high social cost, such as cigarettes and alcohol. These types of excise these taxes are sometimes called sin taxes because the good being taxed has a reputation for being "sinful" or with negative consequences associated with it.
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