Payment of Excise Duity

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2011 Please clarify whether excise duty is payable on finished goods which are unsold for three months. If payable then when ?
I will be highly obliged to know the answer.
Thanks

ADITYA

ADITYA (Expert)
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13 May 2011 Excise Duty is always on the finished goods / semi finished goods which is having marketability. Maintainance of the Daily Stock Register for the goods manufactured is to ascertain the excise duty liability.

However, for the simplification of procedure the Govt has allowed to pay Exice Duty after Sale of Goods.