Excise duty applicability

This query is : Resolved

M. Santhosh kumar (Querist)
Follow

08 July 2011 Can you pls tell me the difference between product exempted from excise duty and product charged to Nil rate of duty?

U S Sharma

U S Sharma (Expert)
Follow

08 July 2011 a) product exempt from excise duty is the product not specified in CETA or removed from CETA

b) products charged as NIL rate of duty means such exemption is conditional with certain notification and such exemption may be conditional or unconditional but till validity of such notification only, once the notification is removed such goods would be liable to excise duty.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now