Excise Duty paid on the Equipment Purchased for Power Projects has been Refunded as Duty Draw Back? Please advice whether the amount refunded is taxable? --- Urgent please.
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Excise Duty Taxable
Replies (5)
No...., its no taxable.....
Exercise duty is taxable for the manufacturing entities in case of duty draw back the amount refunded is not taxable
Yes it is taxable.
duty of excise is allowed as deduction while computing the profits under the Income from business and profession. therefore, it is taken as a business income if it subsequently received back or refunded .
agreed with Mr. Azim......
I also agree with Azim Sir.
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