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Vitesh Waikar (Querist)

23 January 2014 Hii, pls advise, I am studying IDT but in that excise & custom I am unable to understand properly & it is my first time I am studying this & practical experience in this topic how can I get familiar.with this topic of excise & custom.
Thanks in advance

CA SAYANTAN BASU

CA SAYANTAN BASU (Expert)

25 January 2014 Dear student ,
Whenever u study a law , first read the bare act of that particular law .... For customs pls read bare act customs act 1962 and excise it is CENTRAL excise act 1944 ....

1.indian customs act 1962 has in total 160 sections while central excise act has 40 sections ....

2. for the rates of central excise duty you have to refer central xcise tariff act 1985

3.for the rates of customs duty refer to customs tarrif act 1975

4. there are 2 schedules in customs act 1975 ---- 1. first schedule --- import duty 2. second schedule ---- export duty .

5. Similarly there are 2 shedules in central excise tariff act 1985
1. basic excise duty 2. special and additional excise duty ....

in the schedules name of the product , rate of duty and tariff heading is been given ....

fOR REFERENCE PLS CHECK CA AJAI JAIN NOTES ....AND BHARAT PUBLICATION FOR BARE ACTS ....

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