Notification No. 15/2016, Dated 1st March 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification

No. 15/2016 - Central Excise (N.T)

New Delhi, the 1 st March, 2016

G.S.R. (E).— In exercise of the powers conferred by section 11AA of the Central Excise Act, 1944 (1of 1944) and in supersession of the notification of the Government of India in the Ministry of Finance(Department of Revenue) No.5/2011 - Central Excise(N.T.), dated the 1st March, 2011 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number GSR 136 (E), dated the 1 st March, 2011, except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at fifteen per cent. per annum for the purposes of the said section.

2. This notification shall come into force from the 1st day of April, 2016.

[F. No. 334/8/2016/TRU]

(Mohit Tewari)

Under Secretary to the Government of India

Frequently Asked Questions

What are Central Excise notifications?

Central Excise notifications are official announcements issued by the Government of India to communicate changes, updates, or clarifications related to central excise laws and procedures.

They may include amendments to duty rates, exemptions, procedural changes, or new compliance requirements, helping manufacturers and traders stay informed and compliant.

Why are Central Excise notifications important for businesses?

Central Excise notifications are important because they tell businesses about current regulations, duty changes, and compliance obligations.

These updates help manufacturers, importers, and tax professionals adjust their processes, prepare accurate returns, and avoid penalties for non-compliance with excise laws.

How often are Central Excise notifications released?

Central Excise notifications are released as and when the Government introduces changes to tax laws, exemptions, or procedures.

These may be issued periodically or in response to budget announcements, policy reforms, or judicial interpretations that require clarification or regulatory updates.

How can I access the latest Central Excise notifications?

The most reliable sources for the latest Central Excise notifications are official government portals such as the Central Board of Indirect Taxes and Customs (CBIC).

Seair Exim Solutions also consolidates and summarises important notifications to make it easier for businesses to track updates relevant to their operations.

Do Central Excise notifications affect past tax liabilities?

Yes, Central Excise notifications can affect past tax liabilities if they include retrospective amendments, clarifications, or transitional provisions.

Such notifications may have an earlier impact. assessments, compliance positions, or legal interpretations and should be reviewed carefully to ensure proper handling of legacy accounts.