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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 This new draft bill aims to replace the outdated Central Excise Act, ...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 This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law.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)
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The Central Government charges excise duty on several products. These are, Non-renewable Products: Products made of non-renewable sources of energy, including metals and industrial chemicals, fall under this category. Animal Products: This category includes live animals, fish, meat, egg, honey and other edible animal products. Other vegetable products include plants, flowers, leaves and edible parts of vegetables. Miscellaneous Products: Miscellaneous products include spices, starch, malt, seeds, vegetable extracts etc
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
immediate effect for a limited period" of provisions in Bills relating to the imposition or increase of duties of customs or excise.
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
 empower collection provisionally, during the period between the introduction and enactment of the Bill the increased customs or central excise duty where such duty rate is increased beyond the statutory rate approved by Parliament or where such duty is newly imposed
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
extension of the time limit for recovery of duties from two years to three years and the reduction of the time limit for claiming refunds from two years to one year indicate regulatory oversight. Overall, these changes signal the government's intent to create a more predictable and business-friendly excise regime
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
 replacement of CENVAT credit with a new section on Central Excise Duty credit, along with detailed conditions and restrictions for its utilization, reflects a significant shift towards efficiency. Additionally, the transfer of unutilised credit balances as transitional credit is a pragmatic move to ensure continuity
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The Central Excise Bill 2024 introduces several key changes aimed at modernizing and streamlining India's excise framework. Notably, the Bill does not automatically exempt excisable goods produced in Special Economic Zones (SEZ) and export-oriented units, emphasising the need for specific government notifications for exemptions
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