Latest Expert Exchange Queries
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: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: VAT Audit :: TDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd :: empanelment :: ACCOUNTING STANDARD
 
 
« Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

SC to decide on premier petrol, diesel excise issue
August, 26th 2009

The Supreme Court on Monday decided to examine whether the process of addition of multi-functional additives (MFAs) to petrol and diesel and retailing them as premium brands amounts to manufacturing for the purpose of imposition of excise duty.

The Central Excise department has approached the apex court challenging order of the Customs, Excise &Service Tax Appellate Tribunal (CESTAT) on the issue. CESTAT has erred in holding that blending of motor spirit (MS) with MFA does not amount to manufacture and thus failed to consider the fact that blending of MS with MFA gives rise to a product, Speed, with distinct brand name and usage, said the department in its appeal.

Attorney General GE Vahanvati and advocate Chinmoy P Sharma on behalf of the department submitted before the apex court that the activity by which Speed comes into exitence is covered under the provisions of section 2(f) of the Central Excise Act.

Speed has a distinct identity for which the customers pay a premium price, said the central governments top law officer. A bench comprising justices SH Kapadia and Aftab Alam acting on the departments plea issued notice to BPCL and directed the corporation to file its reply.

The department in its appeal said Section 2 (f) of the Act stipulates that manufacture includes any process incidental or ancillary to the completion of a manufactured product.

The process of addition of certain quantity of MFA into MS to bring into existence Speed is incidental and ancillary as the resultant product has different name, characteristics and usage. It thus comes within the meaning of manufacture contemplated under section 2 (f) of the Act, said the department.

It further said: The blending of MFA to normal petrol is an irreversible process and the resultant product i.e. branded MS (Speed) can not be brought into existence but for blending of MFA with normal petrol in a given proportion.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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