14 May 2009
Following are the conditions for levying the excise duty:- • There must be goods. • The goods must be excisable goods. • The goods must have been produced or manufactured. • Such production or manufacture must be manufactured in India.
Central Excise Act, 1944 and Central Excise Tariff Act, 1985 regulates the excise duty
The taxable event for the purpose of Central Excise is manufacture or production of excisable goods but a person shall be liable to pay excise duty at the rate prevalent at the time of clearance of excisable goods from the factory/warehouse and not at the rate prevalent at the time of manufacture.
12 September 2009
There must be goods. The goods must be excisable goods.The goods must have been produced or manufactured. Such production or manufacture must be manufactured in India. Central Excise Act, 1944 and Central Excise Tariff Act, 1985 regulates the excise duty.
Sales Tax levied on the sale transaction including the value of excise.
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