What is Excise Duty ?
It is a tax on manufacturing of goods
It is charged both is case of
local and interstate sales
Excise Duty Under Which Government
It is normally under Central government
for some goods like
It is under State Government
Excise Duty Under Which Law
There are 2 laws by excise
|
Name of Law |
Description |
|
Central Excise Act (CEA) |
It contains procedure of Excise |
|
Central Excise Tariff Act (CETA) |
It contains Rates of Excise Duty on different goods |
What are rates of Excise
(2) Normal Rate of Excise is 12.5%
(3) However Rates can be different on different goods
(i) Rate are mentioned in CETA
