Excise duty on profits

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2015 whether excise duty levy on profits. please mention Rule Or section which says about levy excise duty on Profits.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 May 2015 excise duty is levied on manufacturing activity and not on profit.

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2015 what is cost shall be included in manufacturing activity.

CA Nimesh Maheshwari

CA Nimesh Maheshwari (Expert)
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13 May 2015 Excise duty is neither leviable on cost or profit or any manufacturing activity.

Excise duty is leviable on transaction value.

Please elaborate your query more along with the manufacturing process and the description of final product, in order to give proper reply to this query.