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What are the conditions to levy Excise Duty

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ROSHNI asked almost 3 years ago

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8 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Anil Dhawan answered over 2 years ago

Hello Friend To levy excise duty following four conditions must be satisfied: -- (a) There must be a manufacture -- (b) Manufacture must be in ‘India -- (c) Manufacture must result in Goods -- (d) The resultant goods must be ‘Excisable Goods’. Excise duty is levied upon manufacture or production of goods in India. Therefore the taxable event for levy of excise duty is manufacture or production of goods.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Excise duty is a central tax which is imposed and collected by the central govt. such tax is imposed by the govt on manufacturing of various product. Excise duty is imposed on manufacture and the ultimate burden of such duty is also shift to consumer of such goods because excise duty is indirect nature tax.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered almost 3 years ago

**CONDITIONS TO LEVY EXCISE DUTY** 1) There must be goods. 2) The goods must be excisable. 3) Excisable goods must be manufactured or produced in India. Thanks

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Open uri20170510 32134 tcchcu?1494421832 Jitendra Suthar answered almost 3 years ago

Hiii friend..... Conditions to levy Excise ------------------------- The Excise duty is a nature of Indirect tax and it is levied under Central Excise Act on the Goods which results in their manufacture. - There must be an manufacturing activity - And the resulting product of the manufacture must be a "GooD" - The activity of manufacture must be in India The manufacture of Goods are exempted from Excise duty if manufactured at SEZ areas. The Excise duty is levied at the first stage of production or manufacture. The Indirect taxes are ultimately borne by Final Consumer. Small Business entities are given exemption from excise duty if there turnover does not exceed Rs.1.5 crore. And the rate of excise duty depends upon the category of product. Regards,

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Picsjoin 2017224123730582 Archana answered almost 3 years ago

Hie Roshni, **There are three basic conditions to levy Excise duty, they are :-** 1) There must be goods. 2) The goods must be excisable. 3) Excisable goods must be manufactured or produced in India.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Marudhachalamurthi answered almost 3 years ago

1. There must be a manufacture of goods with in India, 2. Excise duty is levy on 'Excisable Goods' Which is specified in First and Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) Meaning of Excisable goods As per Central Excise Act 1944 , “excisable goods” means goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) as being subject to a duty of excise and includes salt; Explanation - For the purposes of this clause, “goods “ includes any article, material or substance which is capable of being bought and sold for a consideration and such goods shall be deemed to be marketable.

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Data?1494421730 rohit awasthi answered almost 3 years ago

Hello Friend To levy excise duty following four conditions must be satisfied: -- (a) There must be a manufacture -- (b) Manufacture must be in ‘India -- (c) Manufacture must result in Goods -- (d) The resultant goods must be ‘Excisable Goods’. Excise duty is levied upon manufacture or production of goods in India. Therefore the taxable event for levy of excise duty is manufacture or production of goods. No Excise duty shall be levied on excisable goods produced or manufactured in SEZ.

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rashmi commented about 1 year ago

wt is exempted limit wr not to apply excise.

rohit awasthi commented about 1 year ago

There is a option. if we choose this option we have no need to pay excise duty upto 1.5 cr but we can not utilized cenvet credit.

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CHITRANJAN AGARWAL answered almost 3 years ago

Dear roshini, Excise duty is a central tax which is imposed and collected by the central govt. such tax is imposed by the govt on manufacturing of various product. Excise duty is imposed on manufacture and the ultimate burden of such duty is also shift to consumer of such goods because excise duty is indirect nature tax. So, excise duty is levied only when your manufacturing and sale of such goods exceed 1.5 crore during the year or previous year and such manufacturing good is taxable under the excise act. Basic rate of excise duty is 12.5% however such rate is vary from goods to goods nature. Any other query feel free to contact us Writer CA Chitranjan Agarwal

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