TaxTMI 
TaxTMI 
Exemption of Excise duty on various commodity
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....xemption of Excise duty on various commodity<br> Query (Issue) Started By: - M & A CO.C.A Dated:- 6-3-2006 Last Reply Date:- 9-2-2007 Central Excise<br>Got 1 Reply<br>Central Excise<br>In Budget 2006 ....
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....F.M has exempted Excise duty on various commodity , obviously with an intention of reducing end user prices . But ever government has analysed the implication of such exemptions , In my humble opinion....
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.... certainly not …. An example of mockery of our system .. Excise duty on Yeast till 28.02.2006 16.32% ( incl.Ed.cess ) Excise duty exempted vide Noitification No. 3/2006 Dt.01.03.2006 Assessable....
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.... value till 28.02.2006 was Say Rs. 100/- on which Ecise duty was leviable @ 16.32% i.e Rs.16.32 making cost Rs.116.32 /- on which further taxes were added as applicable. On exempting the commodity the....
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.... assessable value charged in bill is Rs.116.32 mean excise duty charged has become the part of Manufacturer profit .In nutshell duty was exempted to directly benefit the manufacturer and not end user ....
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....… Its'nt it a mockery of system ? Reply By Surender Gupta: The Reply: The situation referred by you is not correct always. Yes, sometime the real benefit is not passed on to the customer, but ....
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....more or less ultimately the customer wins, I think.<br> Discussion Forum - Knowledge Sharing ....