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Suggestions Invited on Draft Central Excise Bill, 2024

Suggestions Invited on Draft Central Excise Bill, 2024
Start Date :
Jun 07, 2024
Last Date :
Jun 26, 2024
18:15 PM IST (GMT +5.30 Hrs)
Submission Closed

The Central Board of Indirect Taxes and Customs (CBIC) has prepared a draft of the 'Central Excise Bill, 2024'. This new draft bill aims to replace the outdated Central Excise Act, ...

The Central Board of Indirect Taxes and Customs (CBIC) has prepared a draft of the 'Central Excise Bill, 2024'. This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law. The primary focus of the consultative process is to enact a law that factors in ease of doing business and removes redundant provisions. The draft bill comprises 12 chapters, 114 (one hundred and fourteen) sections and two schedules.

Your suggestions/comments/views are invited in the pre-legislative consultative process on the draft Bill for shaping an efficient, clear, and business-friendly law on the MyGov platform.

How to Participate:
1. Review the draft of the 'Central Excise Bill, 2024' on the CBIC website HERE.
2. Submit your suggestions/comments/views in the following format by 26th June 2024.

Sl.No. | Clause No. of the draft Bill | Title of the Clause | Proposed modification, if any | Reasons, Comments or Remarks

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Showing 546 Submission(s)
AANDO G
AANDO G 1 year 2 months ago

The Central Board of Indirect Taxes and Customs (CBIC) has prepared a draft of the 'Central Excise Bill, 2024'. This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law.Central GST has replaced excise duty as excise is charged by the Central Government and it also collects the revenue from Central GSTIn GST, Excise duty's place has been taken by Central GST as excise is levied by Central Government and revenue from CGST will also be of Central government.Transition of Credit from Repealed Excise Act to the New Act. The new Central Excise Act includes transitional provisions for credit unutilised under the old law. Such credit can be used under the new act, subject to its provisions and rules.Fundamentally, excise duty is a tax levied on domestically produced goods. Generally, it is charged on their production and sale and is also known as CENVAT or Central Value Added Tax.

Mahadebsuna
Mahadebsuna 1 year 2 months ago

have a problem.
RBI fixes inflation rates and then it puts cap on FD rates as well as on interest given on Savings accounts. Now if we see historical records inflation rates are aways fixed higher than the latter two. Why is it that we still have to give tax for the interest banks have got from the banks?
Income Tax is not a matter of pride since I am already paying Tax as GST (earlier VAT Excise Duty) Customs Duty.You dont want to bring petrol-diesel under GST bcoz

  Muthuselvam D
Muthuselvam D 1 year 2 months ago

Non brand goods going from a manufacturer to a dealer or buyer are less taxed.
But why is there no tax on non brand and unclassifiable goods that are exchanged from one dealer to another?.
Non brand and unclassifiable goods also require a limit on duty exemption or lower rate of duty.
It should be regulated to get more profit by buying from farmers at low price.
Trader to Trader bill should be made mandatory.
There is shortage of yarn in Nad and unhindered export of cotton to Bangladesh is allowed.
When there is a shortage of a commodity in the country, excise duty must be levied on businesses exporting raw materials.
Taxes should be imposed on unfinished raw materials such as cotton as a source of textile production.

Minimum excise duty should be imposed on large volume traders of non-branded and non-classifiable goods.