Explain Central Excise Duty?
Answer / aman
Central excise duty is an indirect tax which is charged on
such goods that are manufactured in India and are meant for
domestic consumption. The taxable fact is "manufacture" and
the liability of central excise duty arises as soon as the
goods are manufactured. The tax is on manufacturing, it is
paid by a manufacturer, which is then passed on to the
customer.
The term "excisable goods" means the goods which are
specified in the First Schedule and the Second Schedule to
the Central Excise Tariff Act 1985.
| Is This Answer Correct ? | 6 Yes | 0 No |
Expand F A Qs
please tell me that how much percentage of shares of a company must be purchased so in order to start the company??
what is difference between b.r.c and f.i.r.c
Expand D A
what is the difference between direct income and indirect income?
13 Answers College School Exams Tests, IPO, Wipro,
what is delapidation?
What will be the journal entry of provision for income tax in the financial year .
22 Answers Genpact, VSR Ventures, YEA,
how is the due date calculated. invoice date + payment terms or invoice received date + payment terms or it depends upon the company
Can we assign particular bank a/c to particular vendor, every time payment to that vendor go through assigned bank a/c only.
Tell us something about Sinking Fund.
Office cash was stolen? state whether the following transcation is business transcation or non business transcation?
Explain why the assets of a partnership are usually revalued before the admission of a new partner or the retirement of an existing partner