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1) It is levied on production or manufacture of goods in India.
2) the burden of this tax falls on the consumer.
3)the tax is levied on d dutiable value calculated by the general or specific method.
4)it is payable when goods are removed from the place of removal.
5)it is levied through out india in the same form.
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What is terminal excise duty?
Terminal excise duty is a fee charged on all goods that are manufactured. Excise duty is levied by central or federal governments.
Difference between excise duty and custom duty?
Duty and tax differs in the sense that the former one is implied only on financial transactions, commodities, estates and the like, where the latter is mainly levied on both goods and individuals. Duties are generally inputs and are tagged with a “cost” perspective. On the other hand, taxes generally are inputs and are tagged on an “income or value” perspective.Read more:Difference Between Duty and Tax | Difference Between | Duty vs Taxhttp://www.differencebetween.net/miscellaneous/politics/difference-between-duty-and-tax/#ixzz2ObX4LMbP
What is the rate of excise duty?
10%
Does excise duty includes in Ex Works price?
Unless otherwise catergorically mentioned Ex- works price always include Excise duty.
What is central excise duty?
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
What are 2 types of indirect taxes?
Excise-Duty and Custom-Duty
Why is this an asking computer?
I wounr to Excise tariff duty and custom duty about in knowladge? Please help me! 1.what do the Emport duty? Regard Ramesh Gupta
What is terminal excise duty?
Terminal excise duty is a fee charged on all goods that are manufactured. Excise duty is levied by central or federal governments.
Another name for tax?
There are several other names or synonyms for the word tax. Some include duty, expense, price, custom, excise, and dues.
Difference between excise duty and custom duty?
Duty and tax differs in the sense that the former one is implied only on financial transactions, commodities, estates and the like, where the latter is mainly levied on both goods and individuals. Duties are generally inputs and are tagged with a “cost” perspective. On the other hand, taxes generally are inputs and are tagged on an “income or value” perspective.Read more:Difference Between Duty and Tax | Difference Between | Duty vs Taxhttp://www.differencebetween.net/miscellaneous/politics/difference-between-duty-and-tax/#ixzz2ObX4LMbP
What is the rate of excise duty?
10%
Define customs duties and excise taxes?
can excise duty 3.1827% is applicable in EPGC scheme
What is alcohol duty?
Most products containing alcohol are subject to 'taxation' known as Excise Duty which is collected by Customs and Excise, it is levied on manufacturers and importers
Does excise duty includes in Ex Works price?
Unless otherwise catergorically mentioned Ex- works price always include Excise duty.
What is central excise duty?
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
What is central excise ct3?
it is a permission granted by the concerned central excise asst. commissioner to remove goods without paying excise duty
What is MODVAT?
Modvat stands for "Modified Value Added Tax". It is a scheme for allowing relief to final manufacturers on the excise duty borne by their suppliers in respect of goods manufactured by them. eg ABC Ltd is a manufacturer and it purchases certain components from PQR Ltd for use in manufacture. POR Ltd would have paid excise duty on components manufactured by it and it would have recovered that excise duty in its sales price from ABC Ltd. Now, ABC Ltd has to pay excise duty on toys manufactured by it as well as bear the excise duty paid by its supplier, PQR Ltd. This amounts to multiple taxation. Modvat is a scheme where ABC Ltd can take credit for excise duty paid by PQR Ltd so that lower excise duty is payable by ABC Ltd.
