Table of Contents
What is an excise tax example?
In general, an excise tax is a tax is imposed on the sale of specific goods or services, or on certain uses. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services.
Is excise duty abolished in India?
No, excise duty is levied by the central government except on some items such as narcotics and alcohol. 3- Has GST subsumed 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.
Is excise duty still 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.
What are excise items?
Excise goods include: beer, wine, spirits and other alcohol products. cigarettes and other tobacco products. mineral (hydrocarbon) oils, including heating oils and motor fuels.
What is Chapter 73 of the Central Excise Duty and tariff?
Chapter 73: Articles of Iron or Steel Central Excise Duty and Tariff. India Central Excise Duty of Other Tubes And Pipes (for Example, Welded, Riveted Or Similarly Closed), Having Circular Cross-sections, The External Diameter Of Which Exceeds 406.4 Mm, Of Iron Or Steel – Line Pipe Of A Kind Used For Oil Or Gas Pipelines
What is Chapter 73 of the Indian Constitution?
Chapter 73: Articles of Iron or Steel of India Import Duty, Custom Duty, Tariff and Taxes. Chapter 73: Articles of Iron or Steel of India Import Duty, Custom Duty, Tariff and Taxes.
What are the Articles of iron or steel in Chapter 73?
SECTION XV CHAPTER 73 552 CHAPTER73 Articles of iron or steel NOTES 1. In this Chapter, the expression “cast iron” applies to products obtained by casting in which iron predominates by weight over each of the other elements and which do not comply with the chemical composition of steel as defined in Note 1(d) to Chapter 72.
What is central excise duty of tubes and pipes in India?
India Central Excise Duty of Other Tubes And Pipes (for Example, Welded, Riveted Or Similarly Closed), Having Circular Cross-sections, The External Diameter Of Which Exceeds 406.4 Mm, Of Iron Or Steel – Line Pipe Of A Kind Used For Oil Or Gas Pipelines