Excise duty
This query is : Resolved
10 August 2015
Mr. Anand,
Excise tax is a kind of tax that is levied on production and sales of goods produced within the country. The tax is known in the name of central value added tax (CENVAT).
3 types of central excise duty
Basic – Excise duty is imposed on all the goods except salt that comes under Section 3 of the Central Excise and Salt Act of 1944. This tax falls under the Central Excise Tariff Act.
Additional – Listed goods attract excise duty under Section 3 of Additional Duties of Excise Act 1957. This tax is distributed between centre and states.
Special – Certain selected goods are covered under this kind of excise duty. The goods which attract special excise duty are already mentioned in the Finance Act.
National Calamity Contingent Duty:
It is also referred to as NCCD and is applied as per the Section 136 of the Finance Act, 2001. It is taken as an additional tax on certain specified goods.
More info:
https://business.mapsofindia.com/india-tax/types/excise.html
Excise tax is a kind of tax that is levied on production and sales of goods produced within the country. The tax is known in the name of central value added tax (CENVAT).
3 types of central excise duty
Basic – Excise duty is imposed on all the goods except salt that comes under Section 3 of the Central Excise and Salt Act of 1944. This tax falls under the Central Excise Tariff Act.
Additional – Listed goods attract excise duty under Section 3 of Additional Duties of Excise Act 1957. This tax is distributed between centre and states.
Special – Certain selected goods are covered under this kind of excise duty. The goods which attract special excise duty are already mentioned in the Finance Act.
National Calamity Contingent Duty:
It is also referred to as NCCD and is applied as per the Section 136 of the Finance Act, 2001. It is taken as an additional tax on certain specified goods.
More info:
https://business.mapsofindia.com/india-tax/types/excise.html
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