some thing about excise

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ajaybhatia

ajaybhatia (Querist)
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07 July 2008 i want to know some thing about excise.can anyone help me.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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07 July 2008 Excise duty is a levy on the producer of certain goods, commodities and activities. It is a separate from VAT, and is different from it in that VAT directly affects the consumer, although, naturally, the consumer also indirectly pays the excise, as it is included in the eventual sale price of the product.

What is interesting about excise tax is how vague it actually is - it would be difficult, if at all possible, to find a precise definition explaining what it is that categorizes goods subject to excise tax. Lists of such goods are readily provided by governments, and it is possible to guess at what might be the motive for grouping such goods together; however, no explicit, formal definition is provided:

ajaybhatia

ajaybhatia (Querist)
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07 July 2008 thank u sir

ajaybhatia

ajaybhatia (Querist)
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07 July 2008 sir if we pay excise on some goods and these goods destroyed ,can we take credit of excise .

MANAS ROUT

MANAS ROUT (Expert)
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07 July 2008 no u can not take the excise input until the goods used for manufacture and producitons.

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