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

  1. Tax Practical
  2. Practical Excise
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .