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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is excise duty paid on?

Excise duties are indirect taxes applied to the sale or use of goods such as alcohol, tobacco and energy products.

Does excise still exist?

Excite once operated a webmail service commonly known as Excite Mail until August 31, 2021. The original Excite company was founded in 1994 and went public two years later.

Why is excise duty charged?

Excise duty is a form of indirect tax that is levied by the Central Government of India for the production, sale, or license of certain goods. Excise duty charges are also collected by state governments for alcohol and narcotics.

Is an excise tax on producers or consumers?

Excise Tax Paid Mainly by Consumers If the supply curve is relatively flat, the supply is price elastic. When demand happens to be price inelastic and supply is price elastic, the majority of the tax burden falls upon the consumer.

What goods are subject to excise tax Philippines?

Excise taxes apply to services and to goods manufactured or produced in the Philippines for domestic sales, consumption, or for any other disposition and to things imported.

Which goods are exempted from excise duty?

Exemption to capital goods and all goods (other than LDO, HSD and petrol) captively consumed for manufacture of final products (other than matches) - Notfn. No. 67/95-CE dated 16.3.1995.

What goods are subject to excise?

Excise taxes are taxes required on specific goods or services like fuel, tobacco, and alcohol.

Who is liable to pay excise duty?

6. Who is liable to pay Excise Duty? Ans: The manufacturer or the producer of goods is liable to pay Excise Duty. 7.

Does excise duty exist in India?

This tax is shared between the central and state governments and charged instead of sales tax. Special - ing to Section 37 of the Finance Act, 1978, Special Excise Duty is levied on all excisable goods that come under taxation, in line with the Basic Excise Duty under the Central Excises and Salt Act of 1944.

Why do we have excise duty?

The primary function of these duties and levies is to ensure a constant stream of revenue for the State, with a secondary function of discouraging consumption of certain harmful products; i.e. harmful to human health or to the environment.

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The quickest way to Excise Time Charter For Free with DocHub

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