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Excise duty is applicable on specific goods produced or manufactured within a country, such as alcohol, tobacco, and petroleum products. It is typically levied at the point of production or sale and is intended to discourage the consumption of certain goods or to generate revenue for the government. Additionally, excise duties may apply to specific services in certain jurisdictions. The rates and applicability can vary based on local laws and regulations.
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Define customs duties and excise taxes?
can excise duty 3.1827% is applicable in EPGC scheme
At present how much Central Excise duty applicable on Transformer oil?
14.42%
What is terminal excise duty?
Terminal excise duty is a fee charged on all goods that are manufactured. Excise duty is levied by central or federal governments.
What is central excise tariff act 1985?
The Central Excise Tariff Act of 1985 is an Indian legislation that governs the imposition of excise duty on goods manufactured or produced in India. It provides a framework for classifying goods and specifies the rates of excise duty applicable to different categories of products. The Act is crucial for tax administration and revenue generation for the government. It has been amended several times to accommodate changes in economic and industrial policies.
What is terminal excise duty and how it is different from normal excise duty?
Terminal excise duty is a tax levied on goods that are produced and consumed within a specific region or terminal, often applied to goods sold in a particular area, such as a free trade zone. Unlike normal excise duty, which is generally applied to the manufacture or production of goods regardless of where they are sold, terminal excise duty focuses on the point of sale or consumption. This distinction means that terminal excise duty can vary based on location, whereas normal excise duty typically applies uniformly across a country. Additionally, terminal excise duty may be aimed at promoting local consumption or trade within designated areas.
What is the rate of excise duty?
10%
Is there any licence required to sell imported wines in tamilnadu?
Hai, It depends on how you have imported the wines. Whether the import is a sample or a commercial shipment. if it is sample shipment you can not sell, if it is a commercial shipment you must pay the applicable duty of customs duty, excise duty, and other cess with additional duty(ranging from 0-550% of the invoice value) addition to this you must have a valid excise license to sell the wines inside India
What are 2 types of indirect taxes?
Excise-Duty and Custom-Duty
What is central excise duty?
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.
Does excise duty includes in Ex Works price?
Unless otherwise catergorically mentioned Ex- works price always include Excise duty.
What is alcohol 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
What is central excise ct3?
it is a permission granted by the concerned central excise asst. commissioner to remove goods without paying excise duty
