What is Central Excise Tax?
Here, a short explanation about Central Excise Tax is explained with easy and simple understanding mode. Who has to pay Central Excise Tax? What are the types of Central Excise Tax, Exemptions to pay Central Excise Tax etc.?
Central Excise Tax is levied up on manufacture of excisable goods in India. So Central Excise Tax has to be paid at the time of removal of manufactured products. The ownership is not relevant under Excise tax is concerned. The goods could be either sale of goods or goods ready for sale.
Central excise tax is classified in to mainly three categories. Basic excise duty, Special Excise Duty and Additional excise tax. The central excise tax rate is fixed time to time by Central government of India as per the Central Excise Tariff act.
No central excise tax is to be paid for exempted goods scheduled in the Act, amending time to time.
Here, a short explanation about Central Excise Tax is explained with easy and simple understanding mode. Who has to pay Central Excise Tax? What are the types of Central Excise Tax, Exemptions to pay Central Excise Tax etc.?
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