Excise Day Application Gratis
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Why do we celebrate Central Excise Day?
Central Excise Day is commemorated every year all across the India on 24th of February to encourage the employees of excise department to carry out the central excise duty all over the India in better way in order to prevent the corruption in goods manufacturing business as well as implement other rules to carry out
What is the meaning of Central Excise Day?
Central Excise Day is commemorated every year all across the India on 24th of February to encourage the employees of excise department to carry out the central excise duty all over the India in better way in order to prevent the corruption in goods manufacturing business as well as implement other rules to carry out
What is the meaning of central excise?
An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production or sale of a good. This tax is now known as the Central Value Added Tax (CEN VAT).
What is the difference between state excise and central excise?
Excise duty on alcohol and specified narcotic substances is collected by the states, and an excise inspector is an employee of the particular state. Central excise duty on manufacture of other goods is a union subject: the central excise inspector is a central government employee.
What is central excise duty and its features?
Salient Features in Central Excise Tax. It is necessary to pay taxes on all the goods manufactured, unless exempted. The Central Excise Duty is levied as soon as the goods are manufactured or produced.
What is meant by excise tax?
Excise tax refers to an indirect type of taxation imposed on the manufacture, sale or use of certain types of goods and products. Excise taxes usually fall into one of two types: Ad Valor em. Meaning that a fixed percentage is charged on a particular good or product.
What do you mean by central excise duty?
Central Excise duty is an indirect tax levied on those goods which are manufactured in India and are meant for home consumption. The taxable event is 'manufacture' and the liability of central excise duty arises as soon as the goods are manufactured.
What do you mean by excise duty?
excise duty. A percentage levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products). A percentage tax levied on a company's revenue, instead of (like income tax) on the company's income. Also called excise tax.
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