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 :
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
Related Topics :
CAclubindia
