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Significance of Exemption Notifications

Although rate of duty may be mentioned in CETA but they may be made exempt by the Government

This is done by issuing exemption notification by Central Government.

This notification may either make Goods

  • Fully exempt (Duty is not charged)
  • Partially exempt (Duty charged at lower rate)

Conditions subject to which exemption is available is also specified in notification

 

Exam Questions

Question 8
Distinguish between tariff rate of excise duty and effective rate of excise duty.

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi and Kerala.