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What is Excise & Service Tax? What is the difference?

Open uri20170510 32134 7ezpi6?1494421819 jaggu asked almost 3 years ago

Hi Can I know, What is Excise & Service Tax? What is the difference?

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6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Service tax is an indirect tax imposed by the government on service providers on certain service transactions, but is actually paid by the customers. Services provided by air-conditioned restaurants and short term accommodation provided by hotels, inns, etc are included in the taxable services.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

Excise tax is an indirect tax that is imposed on the manufacture, sale or use on certain types of goods and products. Excise taxes are generally imposed on goods such as cigarettes or alcohol, also in the price of an activity such as gambling. Excise taxes may be imposed by both Federal and state authorities. Service tax is an indirect tax imposed by the government on service providers on certain service transactions, but is actually paid by the customers. Services provided by air-conditioned restaurants and short term accommodation provided by hotels, inns, etc are included in the taxable services.

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Open uri20170510 32134 1c996lj?1494421732 Anil answered almost 3 years ago

Central Government has lieved Excise Duty @14.42% w.e.f 1st march 2008, earlier it was 16.48%, government has lieved Excise duty only to those who are in the manufacturing unit e.g (manufacturing , mining, textiles, any goods which are to be produced). Service tax is also lieved by Central Government it is charged @12.36% earlier it was 8% then 10% and now it is 12% (extra ed cess+ S.H.Ed cess) on providing service to the customer who is availing the benefit of any kind of service and payable by the service provider on every 5th of the month.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered almost 3 years ago

> Excise & Service Tax **Excise:-** is one of the tax received by government. this duty is a tax levied on the producer of certain goods, commodities and activities. this tax is now known as the Central Value Added Tax (CENVAT). **Service tax:**- is a tax levied on service providers in India, except the State of Jammu and Kashmir. The responsibility of collecting the tax lies with the Central Board of Excise and Customs(CBEC). Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Ministry of Finance, Government of India **Service Tax .**: Service Tax only For Service Charges. As.TransPotr, Doctor , C.A E.T.C But Apply the more Condition. **Excise Duty** .: Excise Duty Only for Manufacturing Goods. But Provided that Company Trun Over Above 1.5 Crore. Than Govt. Calculated Excis Duty

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Chirag answered almost 3 years ago

**Excise**:- is one of the tax received by goverment.this duty is a tax levied on the producer of certain goods, commodities and activities. this tax is now known as the Central Value Added Tax (CENVAT). **Service tax**:- is a tax levied on service providers in India, except the State of Jammu and Kashmir. The responsibility of collecting the tax lies with the Central Board of Excise and Customs(CBEC). Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Ministry of Finance, Government of India **Service Tax** .: Service Tax only For Service Charges. As. TransPotr, Doctor , C.A E.T.C But Apply the more Condition. **Excise Duty** .: Excise Duty Only for Manufacturing Goods. But Provided that Company Trun Over Above 1.5 Crore. Than Govt. Calculated Excis Duty

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered almost 3 years ago

Dear Friend, as far as your query is concerned that What is Excise & Service Tax? What is the difference? Let me informed that Excise tax is an indirect tax that is imposed on the manufacture, sale or use on certain types of goods and products. Excise taxes are generally imposed on goods such as cigarettes or alcohol, also in the price of an activity such as gambling. Excise taxes may be imposed by both Federal and state authorities. Service tax is an indirect tax imposed by the government on service providers on certain service transactions, but is actually paid by the customers. Services provided by air-conditioned restaurants and short term accommodation provided by hotels, inns, etc are included in the taxable services. The major difference between excise tax and service tax is that excise tax is charged on manufactured goods and sales tax is imposed on certain services provided. Hope answer was helpful to you Regards, Arjun Pratap Singh

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