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INTERVIEW QUESTIONS
TAX
EXCISE DUTY TAX / CENVAT
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Question: What are the acts and rules for the Collection of Excise Duty Tax?
Answer: Under the authority of the Central Excise Act, 1944, the taxes are levied on manufacturing or production of goods. The rates for the taxes are specified under the Central Excise Tariff Act, 1985. This duty is chargeable on certain textile products such as yarn, fiber, etc. also excluding the Additional Excise Duty under Additional Duties of Excise (Textiles and Textile Articles) Act, 1975, which are also charged.. The Additional Duties of Excise (Goods of Special Importance) Act, 1957 and Miscellaneous Cess Acts permits and mandates collection of Additional Excise Duty and Cess respectively on many products over Basic Excise Duty authoritated by the Central Excise Act, 1944.
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Question:
What are the acts and rules for the Collection of Excise Duty Tax?
Answer:
Under the authority of the Central Excise Act, 1944, the taxes are levied on manufacturing or production of goods. The rates for the taxes are specified under the Central Excise Tariff Act, 1985. This duty is chargeable on certain textile products such as yarn, fiber, etc. also excluding the Additional Excise Duty under Additional Duties of Excise (Textiles and Textile Articles) Act, 1975, which are also charged.. The Additional Duties of Excise (Goods of Special Importance) Act, 1957 and Miscellaneous Cess Acts permits and mandates collection of Additional Excise Duty and Cess respectively on many products over Basic Excise Duty authoritated by the Central Excise Act, 1944. Source: CoolInterview.com
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