A further dose of good news is that the Ministry has virtually ruled out any increase in the maximum marginal rate on the personal income-tax front as that may affect voluntary compliance.
With the general budget round the corner, the Finance Ministry on Thursday held out some hope for taxpayers by indicating that it could [...]

Goods themselves cannot pay duty so the person who create the taxable event must discharge the liability which he had created. The liability to pay tax excise duty is always on the manufacturer or producer if goods. There are three types of parties who can be considered as manufacturers.
* Those who personally manufacture the [...]

1. Basic Excise Duty
This is the duty charged under section 3 of the Central Excises and Salt Act,1944 on all excisable goods other than salt which are produced or manufactured in India at the rates set forth in the schedule to the Central Excise tariff Act,1985.
2. Additional Duty of Excise
Section 3 of the Additional [...]

The Customs Act was formulated in 1962 to prevent illegal imports and exports of goods. Besides, all imports are sought to be subject to a duty with a view to affording protection to indigenous industries as well as to keep the imports to the minimum in the interests of securing the exchange rate of [...]