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What is terminal excise duty and how it is different from normal excise duty?
Sekhartreddy
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What is terminal excise duty?
Terminal excise duty is a fee charged on all goods that are manufactured. Excise duty is levied by central or federal governments.
What is the rate of excise duty?
10%
What are 2 types of indirect taxes?
Excise-Duty and Custom-Duty
Define customs duties and excise taxes?
can excise duty 3.1827% is applicable in EPGC scheme
Does excise duty includes in Ex Works price?
Unless otherwise catergorically mentioned Ex- works price always include Excise duty.
What is alcohol duty?
Most products containing alcohol are subject to 'taxation' known as Excise Duty which is collected by Customs and Excise, it is levied on manufacturers and importers
What is central excise duty?
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
What is central excise ct3?
it is a permission granted by the concerned central excise asst. commissioner to remove goods without paying excise duty
What is MODVAT?
Modvat stands for "Modified Value Added Tax". It is a scheme for allowing relief to final manufacturers on the excise duty borne by their suppliers in respect of goods manufactured by them. eg ABC Ltd is a manufacturer and it purchases certain components from PQR Ltd for use in manufacture. POR Ltd would have paid excise duty on components manufactured by it and it would have recovered that excise duty in its sales price from ABC Ltd. Now, ABC Ltd has to pay excise duty on toys manufactured by it as well as bear the excise duty paid by its supplier, PQR Ltd. This amounts to multiple taxation. Modvat is a scheme where ABC Ltd can take credit for excise duty paid by PQR Ltd so that lower excise duty is payable by ABC Ltd.
Is a excise duty a direct tax?
No. It is indirect tax.
What is the full form of FED?
Federal excise duty
Federal excise duty is a capital expenditure?
Yes, the federal exercise duty is a capital expenditure.
