Contents
Who is liable to pay excise?
manufacturer
The liability to pay tax excise duty is always on the manufacturer or producer of goods. There are three types of parties who can be considered as manufacturers: Those who personally manufacture the goods in question. Those who get the goods manufactured by employing hired labour.
What are the Offences under the Central Excise Act?
Rule 26 (1) of Central Excise Rules, 2002 provides that any person who acquires possession of, or is in any way concerned in transporting, removing, depositing, keeping, concealing, selling or purchasing, or in any other manner deals with, any excisable goods which he knows or has reason to believe are liable to …
Is excise duty applicable after GST?
Yes, excise duty has been subsumed by the Goods and Service Tax (GST) along with other indirect taxes. However, excise duty is still levied on certain items like petroleum and liquor.
What are excisable goods under excise act?
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, as being subject to a duty of excise and includes salt.
How is excise duty calculated?
The indirect tax of excise duty is generally collected by the retail seller from the customers and paid to the government. This duty is payable on the manufacture of goods. It is payable at the time of taking delivery of the goods from the place of production or from the warehouse for the purpose of selling.
How many types of excise duty are there?
Before GST kicked in, there were three kinds of excise duties in India. Basic excise duty is also known as the Central Value Added Tax (CENVAT). This category of excise duty was levied on goods that were classified under the first schedule of the Central Excise Tariff Act, 1985.
What are the different types of excise duty?
Here are the different types of excise duties:
- Basic Excise Duty: Basic Excise Duty is levied under Section 3 of the Central Excises and Salt Act, 1944.
- Special Excise Duty: Central Excise Duty is charged under Section 37 of the Finance Act, 1978.
- Education Cess on Excise Duty: According to Section 93 of Finance (No.
What is the difference between customs and excise duty?
Main difference between custom duty and excise duty can be defined as below: The duty which is levied on the goods which are manufactured in the country is called excise duty whereas the duty which is levied on the goods which are imported from a foreign country is called as custom duty.
What are the different types of excise duty imposed on excisable goods?
Types of Excise Duty. Here are the different types of excise duties: Basic Excise Duty: Basic Excise Duty is levied under Section 3 of the Central Excises and Salt Act, 1944. Under this section, all excisable products apart from salt, manufactured of produced in India, are subject to Basic Excise Duty.
How can you clear the goods under excise act?
after informing the proper officer in writing at least seven days in advance the quantity of such goods and the date on which he proposes to destroy them and after observing such conditions as may be prescribed by the Commissioner by general or special order, destroy such goods where the duty payable thereon has been …
What is the difference between Customs and excise?
What is the difference between Excise and Custom Duty? The duty which is levied on the goods which are manufactured in the country is called excise duty whereas the duty which is levied on the goods which are imported from a foreign country is called as custom duty.
What goods are subject to excise duty?
At import, excise goods are subject to excise duty, as well as customs duty.
- Alcohol products. Alcohol products include: beer. wine. cider.
- Tobacco products. These include: cigarettes. cigars. hand-rolling tobacco.
- Energy products. These include: hydrocarbon oils. biofuels for use as motor or heating fuel.
What are the sections of the Excise Duty Act?
THE EXCISE DUTY ACT ARRANGEMENT OF SECTIONS 1. Short title. PART I. Inrerpretation 2. Interpretation. 3. Acts deemed to be properly done. 4. Oficer may demand aid of any person. 5. Goods deemed to be manufactured. 6. Duty to be proportionate to quantity, etc. .
What was the Excise Act of 2001 in Canada?
S.C. 2002, c. 22 An Act respecting the taxation of spirits, wine and tobacco and the treatment of ships’ stores Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 1 This Act may be cited as the Excise Act, 2001. 2 The definitions in this section apply in this Act.
What does it mean by Excise Act of 1901?
Excise Acts means this Act and any instruments (including rules, regulations or by‑laws) made under this Act and any other Act, and any instruments (including rules, regulations or by‑laws) made under any other Act, relating to excise in force within the Commonwealth or any part of the Commonwealth.
What does beer mean under the Excise Act?
beer means beer or malt liquor as defined in section 4 of the Excise Act. () black stock, in respect of manufactured tobacco, means that the tobacco is stamped but not marked in accordance with any statute of a province to indicate that it is intended for retail sale in a particular province or in particular provinces.