Applicability of excise duty on trading of rice?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2012
My client is engaged in the business of TRADING of rice. No manufacturing & other processing has been done by him on it. He purchases rice as a wholesaler & sales goods to retail customers. Moreover, he has to pay excise duty on purchase of rice. I want to know whether excise duty will be applicable on TRADING? If yes, at what rate?
11 May 2012
Excise duty leviable only on manufacturing/processing.
12 May 2012
No, Excise duty is not applicable on trading activity. The excise duty borne by you at the time of purchase is expenditure for you.
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