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«Government of India Ministry of Finance Department of Revenue Tax Research Unit ***** P. K. Mohanty Joint Secretary (TRU-I) Tel: 23092687, Fax: ...»

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49/2008-CE (NT) dated 24.12.2008 which specifies goods liable for assessment based on Retail Sale Price (RSP). This change will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.

Amendments in the First Schedule to the Central Excise Tariff Act, 1985:

1) Excise duty on cigarettes is being increased by 72% for cigarettes of length not exceeding 65 mm and by 11% to 21% for cigarettes of other lengths. Similar increases are proposed on cigars, cheroots and cigarillos.

2) Basic excise duty is being increased from 12% to 16% on pan masala, from 50% to 55% on unmanufactured tobacco and from 60% to 70% on jarda scented tobacco, gutkha and chewing tobacco.

3) Tariff items related to cigarettes of length exceeding 75 mm but not exceeding 85 mm and cigarettes of length exceeding 85 mm are being merged into a single tariff item i.e. others [2402 20 90]. Accordingly, tariff item 2402 20 60 and the entries relating thereto are being omitted.

4) The entry 2403 19 occurring against the description “Other than paper rolled biris, manufactured without the aid of machine” is being substituted with 2403 19 21.

5) The unit quantity code against certain entries is being changed.

The changes at 1) to 4) will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931. Clause 105 of the Finance (No.2) Bill, 2014 refers.

Amendments in the CENVAT Credit Rules, 2004:

1) Rule 12A is being amended so as to disallow transfer of credit by a large taxpayer from one unit to another.

2) A new sub-rule (qa) is being inserted in Rule 2 to introduce the definition of „place of removal‟.

3) Rule 4(1) (for input credit) and Rule 4(7) (for input service credit) are being amended in order to fix a time limit of six months for availment of the CENVAT Credit.

Notification No.23/2004-Central Excise (NT) dated 10th September, 2004 as amended vide notification No.21/2014-Central Excise dated 11th July, 2014 refers.

Amendments in the Central Excise Rules, 2002:

1) E-payment is being made mandatory for all assessees subject to certain exceptions.

2) Sub-rule (3A) of rule 8 is being substituted to provide that in case of default in payment of duty, the assessee shall on his own pay a penalty of 1% per month on the amount of duty not paid for each month or part thereof.

Notification No.4/2002-Central Excise (NT) dated 1st March, 2002 as amended vide notification No.19/2014-Central Excise dated 11th July, 2014 refers.


Amendments in the Central Excise Valuation Rules, 2004:

1) The Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000 is being amended so as to provide that in cases where excisable goods are sold at a price below the manufacturing cost and profit and there is no additional consideration flowing from the buyer to the assessee directly or from a third person on behalf of the buyer, value for the assessment of duty shall be deemed to be the transaction value.

Notification No.45/2000-Central Excise (NT) dated 30th June, 2000 as amended vide notification No.20/2014-Central Excise dated 11th July, 2014 refers.

Authority for Advance Rulings

1) The Scheme of Advance Ruling is being extended to Resident Private Limited Companies. In this regard, notification No.18/2014-Central Excise (N.T.) and notification No.51/2014Customs (N.T.), both dated 11th July, 2014 refers.

Unit Quantity Codes

1) The Schedules to the Customs and Central Excise Tariffs are being amended in respect of selected goods to match the Unit Quantity Codes prescribed therein with the ones that are actually used in trade and commerce. This would facilitate trade and improve data quality and compliance.


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