What are the types of excise?

Types of Excise Duty

  • Basic Excise Duty: Basic Excise Duty is levied under Section 3 of the Central Excises and Salt Act, 1944.
  • Special Excise Duty: Central Excise Duty is charged under Section 37 of the Finance Act, 1978.
  • Education Cess on Excise Duty: According to Section 93 of Finance (No.

Is excise still applicable in India?

Readers should note that GST has now subsumed a number of indirect taxes including excise duty. This means excise duty, technically, does not exist in India except on a few items such as liquor and petroleum.

What is central excise document?

This document is used for procurement of excisable goods without payment of excise duty for exports. It mentions details, such as description of goods, quantity, value and the excise duty payable on goods to be removed duty-free on the basis of information furnished by the exporter.

What is PLA register?

Personal Ledger Account (PLA) is an account through which assessee pays duty to the government. The PLA register is credited when the duty has to be paid. When the duty is discharged (by CENVAT Credit /Payment), the PLA register will be debited.

What are the two types of excise tax?

Specific Tax – refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement. Ad Valorem Tax – refers to the excise tax which is based on selling price or other specified value of the goods/articles.

Who is liable to pay excise?

6. Who is liable to pay Excise Duty? Ans: The manufacturer or the producer of goods is liable to pay Excise Duty.

Is excise applicable after GST?

After GST was introduced, excise duty was replaced by central GST because excise was levied by the central government. The revenue generated from CGST goes to the central government.

Is excise duty part of GST?

What is central excise certificate?

Central Excise Registration and Regulations. Central Excise Duty is a form of Indirect Taxation levied through the Central Excise Act, 1944. The Central Excise Duty is levied on Goods and Products, which are manufactured or produced in India.

What is PLA a C?

Personal ledger Account is an account with the Central Government, which is utilized for payment of excise duty. The account is credited when the sum is deposited in bank by GAR-7 challan and debited on payment of excise duty.

What is personal ledger?

Meaning of personal ledger in English a book or a computer document in which details of money owed to or by particular people are recorded: The personal ledger will contain a separate account for each supplier and customer.