Basic Excise.

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Virendra (Querist)
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19 December 2008 Sir,i Wanna know what basicaly Excise Duty is ????
Can you give reference of some good sites where i can know it from basic.

CA Ashutosh Kumar Mishra

CA Ashutosh Kumar Mishra (Expert)
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19 December 2008 www.cbec.gov.in

Reetika Goel

Reetika Goel (Expert)
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20 December 2008 Basic Excise Duty is the duty of excise as specified in first & second schedule to Central Excise Tariff Act (CETA), 1944.

CETA is an Act which classifies goods into various sections/chapters/headings/subheadings...
Format of CETA is

Section..
Chapter..
Heading..
Subheading..

Each article is defined in CETA in a code of 8 digits
First 2 defines the section
3rd & 4th defines Chapter
5th & 6th defines Heading
7th & 8th defines Sub-heading

The rate of duty specified in front of article of 8 digit code is the basic excise duty.

For more details, please refer any good excise book or visit www.cbec.gov.in

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