GOVERNMENT OF INDIA
English language

Home | MyGov

Accessibility
Accessibility Tools
Color Adjustment
Text Size
Navigation Adjustment
Screen Reader iconScreen Reader
Menus
Sticky Menu

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 This new draft bill aims to replace the outdated Central Excise Act, ...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 This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law.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

Reset
Showing 546 Submission(s)
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The bill intends to borrow the concept of ‘related persons’ from the customs law. With respect to the limitation, the time limit for claiming a refund by an assessee is proposed to be one year, whereas earlier it used to be two years. The tax authorities may get three years to raise demands
Dislike (0)
Reply
Report Spam
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
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The bill intends to borrow the concept of ‘related persons’ from the customs law. With respect to the limitation, the time limit for claiming a refund by an assessee is proposed to be one year, whereas earlier it used to be two years. The tax authorities may get three years to raise demands
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The bill has been drafted keeping in mind the limited applicability of the law in respect of specific goods that are leviable to Central Excise duty such as certain tobacco and petroleum products. Moreover, this bill will help in removing outdated and redundant provisions following the introduction of the Goods and Services Tax (GST)
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
The industry had often alleged that the government could pick any year and issue a notice under the existing law, but with the new proposal, the government will be bound to assess cases of evasion and non-payment within a three-year time limit. The industry feels this would provide clarity regarding the initiation of proceedings against the assesses.
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
Regarding demands and recovery, the new draft Central Excise Bill 2024 aims to set the time limit for this at three years to serve notice to the taxpayer. In the old law, there was no such time limit. This helps both the government and taxpayers by providing certainty within this timeline
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
Central Excise Bill 2024 stipulates that the limitation to apply for a refund should be one year. However, in the old law, the limitation period to apply for refunds is two years. Sources in the government say the motive is to encourage taxpayers to seek refunds sooner so that the government can process them early, which will, in turn, help taxpayers with their working capital
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
In the old law, the rate of interest on delayed payment of duty ranged from 10% to 36%. The industry claims this may prove to be a substantial relief to taxpayers. this needs change
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
interest on delayed payment of duty, the new draft states that the rate of interest on delayed payment of duty cannot exceed 18% per annum, in line with the GST law
Dislike (0)
Reply
Report Spam
SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
the industry feels that this will help provide clarity on the taxability of transactions. However, valuation may still pose a challenge, and they expect the government to ease the pain there.
Dislike (0)
Reply
Report Spam
Sticky Menu