Hi Everyone
Can Anyone describe or share the shortest & simple way to learn Excise all about ??
Thanks
Deepak
2 Replies
CA Mukesh Choudhari
(xyz)
(153 Points)
Replied 30 April 2013
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.
CA. Akhil Maangal
(Head - Finance & Accouunts)
(131 Points)
Replied 08 May 2013
| Originally posted by : mukesh kumar | ||
 |
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. |
 |
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.
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