An overview of CENTRAL EXCISE

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Presentation transcript:

An overview of CENTRAL EXCISE

MANUFACTURE Section 2 (f) Deemed manufacture. Third schedule.

CLASSIFICATION Central Excise Tariff. Importance of classification.

VALUATION Section 4 – Transaction Value

SECTION 4 & Valuation Rules Rule 4 - Comparable goods. Rule 5 - Freight and Insurance. Rule 6 - Additional consideration. Rule 7 - Depot clearance. Rule 8 - Captive consumption. Rule 9 - Related person. Rule 10 - Interconnected undertaking. Rule 10A – Jobwork. Rule 11 - Best judgement

SECTION 4 A Weights and Measures. OE Exemption. Different MRP.

EXPORTS Exports without payment of duty. Exports under claim for rebate. Protection of Cenvat Credit.

EXEMPTIONS Small Scale exemption. End use based exemptions. Job work. Captive consumption. Area based exemption.

POWERS OF C.EX. OFFICERS Search & Seizure. Summon. Arrest. Publication of names.

APPELLATE / OTHER REMEDIES Commissioner (Appeals). CESTAT. Settlement Commission. Pre deposit. Compounding.

PENAL MEASURES Various penalties. Provisional attachment of property. Prosecution.

CERTAIN PROCEDURAL ISSUES Self-assessment. Provisional assessment. Due date for payment of duty. Consequences of delayed payment. Filing of returns. ER 1/ ER 4 / ER 5 / ER 6 / ER 7.

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