Latest Expert Exchange Queries

Make 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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4% :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
« General »
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018-regd
  GST: How companies are gaming the system
 Goods And Services Tax transparency: Elimination of added taxes to boost investment in realty
 In a first, Income Tax department to charge govt official under new benami law
 Income Tax Return Filing: 10 common mistakes people make while filing return of income
 Income Tax efiling: A few essential facts for senior citizens to keep in mind

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 2017 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