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Applicability of excise duty on trading of rice?

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2012 My client is engaged in the business of TRADING of rice. No manufacturing & other processing has been done by him on it. He purchases rice as a wholesaler & sales goods to retail customers. Moreover, he has to pay excise duty on purchase of rice. I want to know whether excise duty will be applicable on TRADING? If yes, at what rate?
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S.P.Mahanta

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S.P.Mahanta (Expert)
11 May 2012 Excise duty leviable only on manufacturing/processing.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
12 May 2012 No, Excise duty is not applicable on trading activity. The excise duty borne by you at the time of purchase is expenditure for you.
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