Excise is on manufacturing goods

This query is : Resolved

Anup Sharma (Querist)
Follow

14 September 2013 Dear Experts Excise Duty is imposed on manufacturing goods at the time of goods made or after it has been sold & amount received.

CMA Loganathan Sekar

CMA Loganathan Sekar (Expert)
Follow

14 September 2013 Hi, as per central excise act, 1944 excise duty is on "manufactured goods", liability arises as soon as goods manufactured. Payment of duty on clearing of goods (removal of goods from factory), this is just a collection convenience. Hence selling of goods or receipt of payments are not relevant for excise duty..
Many Thanks,
Loganathan
Cost Accountant

Vijay Thadani

Vijay Thadani (Expert)
Follow

14 September 2013 Excise duty is on manufacture of goods. The duty is payable at the time of removal from factory, if it is the place of removal.

It does not have relationship om whether the goods are sold & amount received.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

Fredrick Samraj

CA.Pinank Arvindbhai Shah

Sunaram Marndi

Narendra

Subscribe Now

Excise is on manufacturing goods

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA