Excise Wage Pdf For Free

An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production or sale of a good. This tax is now known as the Central Value Added Tax (CENVAT).

Tax rate: The rates applicable to excise duty are specified as per the central excise tariff rules. At the moment, excise duty is charged at 12.36% but it varies based on the kind of products. GST, on the other hand, has standard rates at 0%, 5%, 12%, 18%, and 28% depending upon the kind of product.

An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production or sale of a good. This tax is now known as the Central Value Added Tax (CENVAT).

The calculation of customs duty on the laptop would be as follows: Basic customs duty = 20% of Rs. 50,000 = Rs. 10,000. Additional customs duty (CVD) = 12% of (Rs. 50,000 + Rs. 10,000) = Rs. 7,200. Education cess = 2% of (Rs. 10,000 + Rs. 7,200) = Rs. 244. Total customs duty payable = Rs. 10,000 + Rs. 7,200 + Rs. 244 = Rs.

Average Annual Salary (Estimated) Central Excise Inspector average annual salary in India ranges between ? 8.0 Lakhs to ? 10.0 Lakhs. This is an estimate based on salaries received from few Central Excise Inspectors.

As per the norms of Central Excise Tariff ? the current rate of excise duty is 12.36% (it, however, depends on the produced goods). 0%, 5%, 12%, 18% and 28%. The concept of invoice matching does not exist under the purview of excise duty.

Yes, excise duty has been subsumed by the Goods and Service Tax (GST) along with other indirect taxes. However, excise duty is still levied on certain items like petroleum and liquor. 4- What happens if I do not pay excise duty?