12 September 2012
THE EXCISE DUTY TO BE SHOWN DEDUCTED FROM SALES IS ONLY THE DUTY PAYABLE ON SALES OR THE DUTY ACTUALY PAID AFTER TAKING THE CENVAT CREDIT ?
12 September 2012
It is the Duty payable on sales.
Eg. Sale of Products:-(Gross) Faridabad Local Sale 13.125% Faridabad Central Sale 13.125% Faridabad Export Excise Duty Sale of Services Other Operating Revenues Less: Excise Duty ( Payable on Sales )
22 July 2025
Great question! Here’s the difference between rebate of excise duty and refund of excise duty:
1. Rebate of Excise Duty What: A rebate is a concession or discount allowed by the excise department on the duty payable. When: Usually given for specific cases like exports, or if goods are used as inputs in manufacturing other products. Accounting: It reduces the amount of excise duty payable or effectively reduces the cost of goods. Example: You pay excise duty but later get a rebate for certain eligible goods under government schemes. 2. Refund of Excise Duty What: Refund is the return of excise duty already paid by the manufacturer/assessee when it’s found that duty was paid wrongly or excess. When: Happens after claim and approval by the department when duty paid is more than liability, or goods are returned, or goods are exported. Accounting: Treated as a receivable until refund is received; reduces excise duty expense once refunded. Example: Duty was paid on defective goods later returned or duty paid on goods that were exempted.