I seek ur valuable help can anybody please tell me regarding Excise duty payable on Automobile spare parts industry
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Excise duty
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CST 12.36+cess 2.8 what is meant by this
Thank u for SalesTaxes can u please tell me Excise duty(Excise duty-is manufacturers tax while CST- is Sales tax(seller has to pay))
Till to date C. Ex duty is payable on Automobile sapre parts @ 16% plus 2% E.Cess and 1%S & H.E Cess. From 01.03 2008 it will be 14% C. EX duty, 2% E. Cess and 1% S & H E. Cess.
Hope it is clear to you,
Thanks,
S. Banerjee
Thanku very much sir
Excise Duty is a levy on activity of manufacture. It arises once you manufacture the goods scheduled under Central Excise Tariff Act Schedule I & III. Schedule III is nothing but deemed manufacture clause.
Sales tax is a levy on activity of sale of goods. Which means transfer of title of the goods has to be there.
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