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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 This new draft bill aims to replace the outdated Central Excise Act, ...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 This new draft bill aims to replace the outdated Central Excise Act, 1944, with a comprehensive and modern central excise law.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
new draft adopts it in letter and spirit from the customs law, whereas in the old law, no such definition was available in the existing framework of the Act.
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
an exemption from payment of duty is available on all excisable goods produced or manufactured in Special Economic Zones. According to the industry, the draft bill allows the government to provide exemptions to Special Economic Zones by way of notification in the official gazette. This may subsequently prove to be a relief.
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
regarding the provisions for special economic zones, the bill proposes not to exempt excisable goods produced or manufactured in Special Economic Zones and brought to any other place in India from duty
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
burden for petroleum and tobacco players in the country, the finance ministry is all set to revamp the old Central Excise Act 1944 with a new Central Excise Bill 2024, aligning it with recent GST and customs laws.
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
the Central Board of Indirect Taxes and Customs is pushing for easier access to refunds, reducing interest on delayed payment of duty, clarification in the definition of related persons, and much more
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
Private equity, synonymous with financial prowess and strategic foresight, finds its true essence in the intangible fabric of trust, mentorship, and intellectual honesty
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
reduction in compliance burden, and provide a comprehensive legal framework better suited to the current economic landscape,
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
the interest on delayed refunds will start accruing after 60 days from the date of the refund application instead of a 3-month period prescribed under the incumbent excise law.
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SANJAY SARKAR
SANJAY SARKAR 2 years 3 months ago
the bill has proposed to extend the limitation for department authorities to raise duty demand to three years from two years prescribed in the current excise law.
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