If a manufacturer is having a turnover of Rs.70 lacs in preceding financial year, is he liable to pay excise duty? If No, then when is so liable?
Menu
Central excise act.
Replies (2)
Excise Duty is not payable on the amt of turnover there are mainly three conditions to be satisfied for levying Excise duty on a commodity:-
1) There must be goods
2) The goods must be excisable
2) The goods should be produced or manufactured within India
If a goods satifies the following three conditiond then excise duty can be levied.
he can avail SSI exemption upto 1.5 crore
Recent Topics :
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
Related Topics :
CAclubindia
