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sandeep

This query is : Resolved 
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(Querist)
19 May 2009 i want to know what is excise?
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Bhupesh Panchal

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Bhupesh Panchal (Expert)
19 May 2009 Excise is duty or tax which is levied on goods or commodities produced or sold within the country of origin
Excise duty is an indirect tax which is levied on excisable goods produced or manufactured in India.
Following are the conditions for levying the excise duty:-
• There must be goods.
• The goods must be excisable goods.
• The goods must have been produced or manufactured.
• Such production or manufacture must be manufactured in India
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