The proposed Central Excise Bill, 2024, does not exempt excisable goods produced or manufactured in a Special Economic Zone (SEZ) and brought to any other place in India from duty. Any exemption will need to be notified separately by the Central government, if deemed fit, says the Bill.
The Central Board of Indirect Taxes & Customs has invited suggestions on the draft ‘Central Excise Bill, 2024’, which aims to enact a comprehensive modern central excise law with an emphasis on promoting ease of doing business and repealing old and redundant provisions.
A new central excise law will replace the existing eight-decade-old Central Excise Act, the finance ministry said on Tuesday while seeking public comments on a draft bill.
CBIC invites suggestions on the draft ‘Central Excise Bill, 2024’ from stakeholders by 26th June 2024.
