The much-awaited new tax regime of Goods & Service Tax (GST) got a boost, on Monday 18th July, with Bihar Finance Minister and Deputy Chief Minister Sushil Kumar Modi being ''unanimously'' elected as new chairman of Empowered Committee of State Finance Ministers on GST (Goods and Service Tax)

Finance minister Mr. Pranab Mukherjee on 28-02-2011 presented India's budget for the coming financial year 2011-2012 beginning in April.

Following are the highlights of the budget:

• Base rate on excise duty raised to 5%: FM
• Cut in excise duty of hybrid fuel, yarn, steel
• Nominal 1% central excise duty on 130 items entering the tax net. Precious stones, gold and silver jewellery will be exempted
• Basic food, fuel exempted from central excise duty: FM
• Export duty at 20% for iron ore: FM
• Basic customs duty on Pet Coke and Gypsum to be reduced to 2.5%: FM
• Peak rate for customs duty unchanged: FM
• 1% excise duty on 130 new items: FM
• No change in CENVAT rates: FM
• No change in Service Tax rates: FM
• Reduce customs duty on micro irrigation equipment: FM
• FM: to impose mandatory levy of 10 pct on branded garments
• No excise duty on UMPP equipment
• Duty reduction on LEDs to promote adoption by more automakers
• To tax life insurance service providers
• Legal representation for businesses under service tax
• Service tax on hotel accommodation above Rs 1500 per day
• Domestic travel to pay Rs 50 service tax, Rs 250 on international travel
• AC hospitals with more than 25 beds under service tax
• AC restaurants serving liquor under service tax net

This workshop was an attempt to explain and clarify various Aspects on eFiling of Central Excise Returns. Our esteemed client such as HPCL (Mangalore), Total Oil India Ltd., Minox Metal Pvt. Ltd., Karnataka Chemical Industries, Ascent Tools, Vasant Ispat and Allied Products, Jet Enterprises, and many more have been able to file their returns successfully. Below were the topice covered.

• Introduction of Excise eFiling service
• eFiling of Form - 2, ER - 1 and ER - 3
• Goods Transport Agency (GTA)
• Work Contract (WC)