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it is a permission granted by the concerned central excise asst. commissioner to remove goods without paying excise duty
500000
Terminal excise duty is a fee charged on all goods that are manufactured. Excise duty is levied by central or federal governments.
Depending on the specific model of the Mini, the Vehicle Excise Duty will be £145 or £185 for twelve months.
10%
Excise-Duty and Custom-Duty
can excise duty 3.1827% is applicable in EPGC scheme
Unless otherwise catergorically mentioned Ex- works price always include Excise duty.
Most products containing alcohol are subject to 'taxation' known as Excise Duty which is collected by Customs and Excise, it is levied on manufacturers and importers
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
Modvat stands for "Modified Value Added Tax". It is a scheme for allowing relief to final manufacturers on the excise duty borne by their suppliers in respect of goods manufactured by them. eg ABC Ltd is a manufacturer and it purchases certain components from PQR Ltd for use in manufacture. POR Ltd would have paid excise duty on components manufactured by it and it would have recovered that excise duty in its sales price from ABC Ltd. Now, ABC Ltd has to pay excise duty on toys manufactured by it as well as bear the excise duty paid by its supplier, PQR Ltd. This amounts to multiple taxation. Modvat is a scheme where ABC Ltd can take credit for excise duty paid by PQR Ltd so that lower excise duty is payable by ABC Ltd.
No. It is indirect tax.