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EntMnt Knight
If you bought a car or any other goods over the weekend, you could legally expect a refund of the component that went to pay the excise duty on it, Finance Ministry officials confirmed after consultations with Attorney General Mukul Rohatgi.
In an unprecedented development, the powers of the Centre to collect central excise duty stood withdrawn from Friday last on all goods other than petroleum and tobacco.
This premature withdrawal is understood to be an unintended consequence of the notification by the Ministry of most provisions of the Constitutional Amendment paving the way for the roll-out of the Goods & Services Tax (GST). While the notification was made with effect from Friday, the clauses that led to the withdrawal of the powers should have been notified with effect from April 1, 2017 — the date from which the GST will become payable instead of the excise duties and a slew of other indirect taxes.
A clarification over the issue, and any amendments, if needed, would be issued on Tuesday, although the Law Department had found no ‘infirmity’, or uncertainty in the notification or any need for amendments to it, Revenue Secretary Hasmukh Adhia said on Twitter on Monday
GST notification triggers uncertainty over excise duty - The Hindu
In an unprecedented development, the powers of the Centre to collect central excise duty stood withdrawn from Friday last on all goods other than petroleum and tobacco.
This premature withdrawal is understood to be an unintended consequence of the notification by the Ministry of most provisions of the Constitutional Amendment paving the way for the roll-out of the Goods & Services Tax (GST). While the notification was made with effect from Friday, the clauses that led to the withdrawal of the powers should have been notified with effect from April 1, 2017 — the date from which the GST will become payable instead of the excise duties and a slew of other indirect taxes.
A clarification over the issue, and any amendments, if needed, would be issued on Tuesday, although the Law Department had found no ‘infirmity’, or uncertainty in the notification or any need for amendments to it, Revenue Secretary Hasmukh Adhia said on Twitter on Monday
GST notification triggers uncertainty over excise duty - The Hindu