Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TDS :: VAT Audit :: form 3cd
 
 
General »
 The most thrilling idea before every Budget: No income tax
 Finance Ministry likely to tweak Minimum Alternate Tax norms to boost industry
 Income tax department warns people to keep away from benami transactions
 New helpline for income tax e-filing
 The Central Government notifies the Companies (Amendment) Act, 2017
 GST Returns: Government Relaxes Rectification Norms
 Will govt bring change in income tax slab? here's the present structure
 No income tax exemption to cooperative banks
 Bitcoin investors may have to pay capital gains tax
 What industry expected when Modi government implemented GST
  The Finance Resolution And Deposit Insurance Bill, 2017

Finance Ministry detects over Rs 1800 crore excise duty evasion in 2013-14
April, 18th 2014

Increased efforts in checking revenue leakage have resulted in detection of over Rs 1,800 crore central excise duty evasion across the country during 2013-14.

As many as 379 cases of central excise duty evasion were registered by the Directorate General of Central Excise Intelligence (DGCEI) during the last fiscal. These cases involved central excise duty evasion of Rs 1,879.69 crore, Finance Ministry officials said.

Various private entities were evading the central levy through misrepresenting the quantity of goods being produced by them and misuse of government incentives or abatements among others, they said.

However, DGCEI officials could realise only Rs 362.80 crore from these detections, the officials said.

In 2012-13, as many as 458 cases involving evasion of about Rs 2,940 crore were detected by the excise intelligence officials. The realisation was about Rs 1,018 crore.

An excise duty is applicable at the rate of 12.36 per cent on the total quantity of goods produced by a company.

The detection of excise duty evasion cases was excluding of such cases registered by various central excise commissionerates spread across the country.

Manufacturers of pan masala, cigarettes, iron and steel, vehicles parts and accessories, malted foods and chocolates are most prone to evade excise duty, the official said.

Finance Ministry is taking stringent action against any tax defaulter or evader in order to check any loss of the government revenue, he added.

About Rs 1.75 lakh crore was collected as central excise revenue during 2012-13 as against Rs 1.44 lakh crore in 2011-12.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions