Excise Duty - best income tax and gst firms in bengaluru
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Excise Duty

Excise Duty

Excise duty is applicable on goods that are manufactured and sold within the territorial limits of the country.

The term “manufacturing” refers to a process of conversion of an input or raw material into a completely different output.

The applicability of excise duty in terms of rates depends upon the classification of goods as prescribed by Excise authorities.

Further, the amount of excise duty paid by the manufacturer at the time of purchase of input or raw material can be adjusted against his final liability to pay excise duty.

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