Excise Duty

LESSON19 CENTRAL EXCISE LAWS Mr. Surender Munjal STRUCTURE 19.0 19.1 19.2 Introduction impersonal nature of walk out Duty 19.2.1 evaluateable Event 19.2.2 range of grave Duty Chargeability of scrape Duty Definitions and Concepts 19.4.1 Factory 19.4.2 Goods 19.4.2 counterbalance 19.4.3 manufacturer Classification of Goods 19.5.1 Scheme of Classification 19.5.2 Broad group in CETA 19.5.3 Trade Parlance Theory Valuation of Goods allowance of Goods dynamic headroom of Goods Duty Payment Provisions light upon Duty start Provisions Let us agree Up semblance Self-Assessment Exercise Further and Suggested Readings 19.3 19.4 19.5 19.6 19.7 19.8 19.9 19.10 19.11 19.12 19.13 19.14 19.0 INTRODUCTION value is of two types Direct tax and Indirect Tax. Direct Tax is the valuate, which is paid directly by people to the political sympathies, tour indirect revenue enhancement is the revenue enhancement, which is paid indirectly by people to the government. Inc ome Tax is paid directly to the government and because it is a direct tax while chance on duty is paid by people to the manufacturer who pays it to the government, therefore it is an indirect tax. The Constitution of India (COI) has given power to charge tax to central and distinguish government under seventh schedule. The revenue enhancement in India is either charged by the situate governments or by the central government.

In the basic end of taxation in India, it is conceived that central government ordain levy 238 and collect tax revenue from Income Tax (except on plain Income), Excise (except on alcoholic drinks) and Customs while state government will bond tax reve nue from sales tax, excise on liquor and ta! x on hoidenish Income and the municipalities will get tax revenue from octroi and house keeping tax. interchange Excise Law is a combined believe of: 1. 2. 3. 4. Central Excise Act (CEA), 1944; Central Excise responsibility Act (CETA), 1985; Central Excise Rules, 2002; and CENVAT Credit Rules, 2004 19.1 OBJECTIVE later going through this lesson you should be able to understand: ...If you necessity to get a enough essay, order it on our website: OrderEssay.net

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