Head - Finance & Accouunts
131 Points
Joined November 2009
Originally posted by : mukesh kumar |
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Central Excise duty is an indirect tax levied on
those goods which are manufactured in India
and are meant for home consumption. The
taxable event is 'manufacture' and the liability
of central excise duty arises as soon as the
goods are manufactured. It is a tax on
manufacturing, which is paid by a manufacturer,
who passes its incidence on to the customers. |
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Agree with Mukesh Kumar but I wanna rectify Mukesh Kumar in regard to liability to pay Excise Duty. The Liability to pay Excise Duty arises as soon as the Goods are Removed from factory or Warehouse.