Tuesday, February 24, 2009

Central Excise Duty (Excise Tax) In India

An Excise Duty or Excise Tax is a another type of tax which is charged by Government of India on many products. Some of the major products are Hard Drinks and Tobacco. Excise Duty is not meant by Custom Duty( An Tax Which is Charged On the Items We Import From other side of Country) or Vat (Value Added Tax). This is different type of tax from all other taxes.

Every assessee who is liable to pay excise duty have to fill a monthly  return with the superintendent of Central Excise in a specified form by the department.

Any person in India who is manufacturing or running a trade of excisable goods shall have to obtain registration under the excise laws. As per Laws of the Excise Department if items are excisable then no item shall be removed from the warehouse or production units without the Excise Invoice Duly signed by the owner of the Factory or the person authorised for this work.

Central Board of Excise And Customs is works under the Central Government of India (Ministry of Finance Department Of Revenue)

If You Want to know More & Detailed Information About Excise Duty Then Please Check Out Wikipedia At This Link

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