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FEDERAL EXCISE : Highlights
  • Withdrawing excise duty on travel by train.
  • Reducing excise duty on reclaimed oil and introducing uniform rate of excise duty of Rs.2000/- for all grades of Asphalt / Bitumen.
  • Levying 15% excise duty on international air travel Hajj fare / ticketing is exempt from the levy.
  • Levy of excise duty @ 5% on non-fund services provided by financial services sector.
  • Levying 5% excise duty on commission and brokerage of foreign exchange dealers, exchange companies and money changers.
  • Levying 5% excise duty on ‘franchise’ services.
  • Cable TV operators to pay Rs.25/- per connection per month as excise duty.
  • Increasing retail price of cigarettes by 7% .
  • Enhancing the rate of excise duty from 3% to 5% on Insurance Service.
  • Excise duty on lubricating oil to be levied on retail price.
  • Explicitly identifying telecommunication services in the First Schedule to the Excise Act.
  • Introducing a consolidated return for sales tax and excise and prescribing annual return for corporate sector.
  • Introducing the concept of electronic filing of return and other documents through e-intermediaries.
  • Amending the Excise legislation to restrict the Collector (Appeals) to remand back a case for denovo consideration.
  • Incorporating the enabling provisions in the Federal Excise Act, 2005 to monitor production through CCTV and technical experts.
  • Amendment to prescribe time limit of ninety days for filing of revised return.
  • Requiring the Cigarette manufacturers to print their name on the cigarette packets.
  • Amending the excise legislation to disallow drawback of excise duty.
  • Power to collect excise duty on minimum fixed price.
  • Printing of retail price on imported cigarettes.
  • Introducing the concept of Common Taxpayer Identification umber ( CTIN ).
  • Granting one time extension up to 31 st December, 2006 of time limit for cases pending adjudication.
  • Authorizing the Additional Collector to file appeal before the Appellate Tribunal and reference to the High Court.
  • Seek to Improve the Working of ADRC.
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