Central Excise Cenvat Credit Rules '" Traders Must Know

Title: Central Excise Cenvat Credit Rules '" Traders Must Know Category: ROOT Clicks: 0 Listing added: Dec 13, 2010 PageRank: 0/10

Central Board of Excise and Customs or CBEC is the governing authority of India that exercises the right to formulate and implement policies related to the Import export trade. CBEC is also responsible for promoting
foreign trade in the country and take measures to cease the unacceptable practices prevalent in the industry.

Even the most influential countries need resources from other nations to support all the demands of the citizens. This is why, Nations promote import-export business and facilitate cross border trading by formulating policies and guidelines to favour the trade. In India the guidelines and policies of the international business are formulated by major government agencies that are largely involved in the trade. The government boards involved in the import-export trade include Central Board of Excise and Customs, Director General Foreign Trade (DGFT), RBI and other major financial boards. All these organizations work in co-ordination to encourage the functionality of foreign trade in the country.

Besides all the governing authorities, CBEC is the sole authority concerning the regulation of important trade. Major responsibilities of CEBC include collection of taxes (Customs and Central Excise duties), and policy formulation. Another important task handled by this board includes prevention of objectionable practices like smuggling and foster punishment to those who are found guilty. The different functions of CEBC are administered by its eminent subordinate organizations namely Custom Houses, Central Excise Commissionerates and the Central Revenues Control Laboratory.Central Excise Rules

Central Excise board is the ruling authority, exercising control over the Exports trade. It levies excise duties that are impeccable for exporting any goods or products across the territorial borders of the country. Another important task of this board includes the conception of guidelines and policies known as Central Excise Rules. Any exporter, exporting goods out of the country has to abide by these rules to carry out his trade smoothly.