22 August 2019
Wanted to know more about Excise duty when it was applicable;
for a product which was bought and sold with my own Tradename and Logo in the year 2010-2017.
and the product was exciseable
1.Is Excise duty was applicable from very first sales .
2.Goods were purchased and sold by own tradename.
3.If i was not paid excise duty after a sales turnover more than 1.6 cr in a particular year.
than what will happen.
14 November 2019
Excise duty will be applicable on manufacturing of goods and ssi exemption was applicable upto 1.5 cr. If you have purchase the goods and sale the goods bearing a own brand then it will be covered under the deemed manufacturing of goods and you need to pay excise duty.