Central Excise Duty- Introduction and Overview. Submitted By:- Sandee p Lecturer in Commerce. Introduction. Central Excise Duty form the single largest source of indirect taxes for central Government
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Lecturer in Commerce
Basic conditions of excise liability -
There are four basic conditions for levy of Central Excise duty.
(2) The goods must be excisable.
(3) The goods must be manufactured or produced
(4) Such manufacture or production must be in India.
Unless all of these conditions are satisfied, Central Excise Duty cannot be levied. Each of these requirements needs close scrutiny.
Goods can be non-excisable in any of the following situations:
Excise duty is paid by manufacturer in the first instance and then he passes it on to the ultimate consumers, that is why it is called as indirect tax.